Apr 02 2019

Texas Daily Ag Market News Summary Posted 5 years 240 days ago by Administrator Account

Daily Market Summary for April 2nd  

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 Tuesday, negotiated cash trade and demand is light in Kansas with a few live purchases mostly at 124.00, however not enough for a market trend. Trading in all other regions is inactive on light demand. The latest established market in any feeding region was last week with live purchases in the Southern Plains from 125.00-126.00. Last week in Nebraska, live purchases traded at 126.00, with a few up to 127.00. Dressed purchases traded at 206.00. In Colorado last week, live purchases traded at 126.00. For the previous week in the Western Cornbelt, live purchases traded from 127.00-129.00 with dressed purchases from 205.00-206.00.

  

Negotiated Sales:

Confirmed: 1,735 --- Week Ago: 1,353 --- Year Ago: 13,208

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 25,600

Weighted avg weight:            836

Weighted avg net price:   204.61

   

Alberta Beef Producers Daily Report:

Alberta direct cattle Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. Fed cattle supplies are starting to tighten. Many producers are indicating they are on the tail end of their yearlings and fed calves won't be ready for another month. In 9 out of the past 12 years fed cattle prices have strengthened from March to April. Packers are not long bought and will have to stay aggressive on the cash market.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs         Sheep

Tuesday (est            120,000    2,000     476,000      9,000

Week ago (est)        119,000    2,000     471,000      9,000

Year ago (act)          118,000    2,000     463,000    11,000

Week to date (est)   235,000    4,000     952,000    18,000

Last Week (est)       238,000    4,000     945,000    18,000

Last Year (act)         221,000    4,000     781,000    20,000

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                             Monday         89,000                   26,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     225.73     218.49

Change from prior day:        -1.11        -0.84

Choice/Select spread:            7.24

Total Load Count (Cuts, Trimmings, Grinds): 141

 

Cutter Cow Cutout: 169.01… -0.34

  

CME Feeder Cattle Index: 142.50… +0.08

 

Futures

Live Cattle:

April: 126.27… +0.10

June: 119.65… +0.18

August: 116.25… +0.05

Feeder Cattle:

April: 144.85… -0.60

May: 147.80… -1.07

August: 155.25… -1.45

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April Hogs: 78.95… +1.55

April Crude Oil: 62.58… +0.99

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May Corn: 3.6150… -0.0025

May Soybeans: 9.0000… +0.0425

May Wheat: 4.6400… +0.0125

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Grain Cash Bids:

Kansas City Corn: 3.61… Unchanged

Kansas City Soybeans: 8.64… +0.04

Kansas City Wheat: 4.39… +0.01

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Financial Markets:

Dow Jones Industrial Average: 26,179.13… -79.29

S & P 500: 2,867.24… +0.05

NASDAQ: 7,848.69… +19-78

U.S. Dollar Index: 97.32… -0.02

Cotton (www.ams.usda.gov): 

May Cotton Futures: 77.27… -0.09

Milk (www.cmegroup.com): 

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