Mar 29 2019

Texas Daily Ag Market News Summary Posted 5 years 244 days ago by Administrator Account

Daily Market Summary for March 29th  

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:  

As of 3:00 PM Friday, negotiated cash trading has been at a standstill in the Southern Plains. Negotiated cash trading has been limited on light demand in the Northern Plains and Western Cornbelt. In Nebraska a few live cash trades moved at 126.50. However, not enough trades in any one region for a full market trend. The last fully reported market in the major feeding regions was on Wednesday. In the Southern Plains live cash trades moved from 125.00-126.00. In the Northern Plains live cash trades moved mostly at 126.00, and dressed cash trades in Nebraska moved mostly at 206.00. In the Western Cornbelt live cash trades ranged from 127.00-129.00, mostly at 128.00, and dressed cash trades moved mostly at 205.00, with a few up to 207.00.

  

Negotiated Sales:

Confirmed: 6,419 --- Week Ago: 32,125 --- Year Ago: 4,839

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 20,000

Weighted avg weight:            838

Weighted avg net price:    204.59

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales so far this week have seen light trade develop with dressed sales ranging from 268.00-270.00 delivered. Sales are 3.00-4.00 higher than last week. Cattle that were bought this were being scheduled for the week of April 8th delivery. Stronger prices week over week and stronger basis levels did encourage producers to market cattle. Fed cattle prices are trading about 0.50 shy of their highs set back in early January.

 

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs         Sheep

Friday  (est              106,000     2,000     466,000      8,000

Week ago (est)       113,000      2,000     455,000      8,000

Year ago (act)         105,000     3,000     417,000       5,000

Week to date (est) 581,000   12,000   2,367,000    42,000

Last Week (est)       589,000   12,000   2,342,000    43,000

Last Year (act)         573,000     9,000   2,262,000    42,000

Saturday (est              33,000        0           142,000      1,000

Week ago (est)           42,000        0           154,000      1,000

Year ago (act)             17,000        0           113,000      1,000

Week to date (est)    614,000   12,000    2,509,000    43,000

Last Week (est)        631,000   12,000    2,496,000     44,000

Last Year* (act)        590,000     9,000    2,376,000     43,000

2019 YTD               7,799,000  149,000  31,674,000   482,000

2018 *YTD             7,755,000  132,000  30,890,000   493,000

Percent change         +0.6%   +12.8%       +2.5%       -2.3%

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                          Thursday         91,000                   26,000

 

Boxed Beef: 

Boxed beef cutout values weak to lower on light demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak. Beef trimmings mostly moderately higher on moderate demand and light offerings.

 

Cutout Values...                 Choice     Select

Current Cutout Values:     226.04     218.39

Change from prior day:        -1.40        -1.13

Choice/Select spread:            7.62

Total Load Count (Cuts, Trimmings, Grinds): 92

 

Cutter Cow Cutout: 168.82… +0.18

  

CME Feeder Cattle Index: 141.74… -0.61

 

Futures

Live Cattle:

April: 125.70… -0.82

June: 119.00… -0.62

August: 115.67… -0.83

Feeder Cattle:

April: 145.25… -0.70

May: 148.77… -0.90

August: 156.25… -0.60

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April Hogs: 77.37… -1.50

April Crude Oil: 59.30

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May Corn: 3.5650… -0.1750

May Soybeans: 8.8425… -0.0525

May Wheat: 4.5775… -0.0675

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Weekly National Grain Market Review:

Compared to last week, cash bids for wheat, corn, sorghum and soybeans were mostly lower.  Ethanol production for week ending March 22nd totaled 0.975 million barrels per day, a decrease compared to the week prior.  Most of the lost production would be due to road closures in the Midwest due to flooding.  Losses in wheat are directly related to flooding as well as rail transportation issues weren't as widespread as anticipated ahead of the event.

Grain Cash Bids:

Kansas City Corn: 3.56… -0.17

Kansas City Soybeans: 8.46… -0.06

Kansas City Wheat: 4.36… -0.07

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Financial Markets:

Dow Jones Industrial Average: 25,928.68… +211.22

S & P 500: 2,834.40… +18.96

NASDAQ: 7,629.32… 60.15

U.S. Dollar Index: 97.26… +0.06

Cotton (www.ams.usda.gov): 

May Cotton Futures: 77.61… +1.74

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.06… +/-0.00