Jan 24 2020

Texas Daily Ag Market News Summary Posted 4 years 309 days ago by Administrator Account

Daily Market Summary for January 24th

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Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trade was limited on light demand in Nebraska and the Western Cornbelt. Trade was inactive on light demand in the Southern Plains. Not enough purchases in any feeding region for an adequate market test. The latest established market in the Southern Plains was on Wednesday with live purchases at 124.00. On Thursday in Nebraska, live purchases traded at 124.00 with dressed purchases at 199.00. In the Western Cornbelt on Thursday, live purhcases traded from 124.00-126.00, bulk at 125.00 with dressed purchases mostly from 198.00-199.00, few up to 199.50.

   

Negotiated Sales:

Confirmed:     2,607

Week Ago:      7,928

Year Ago:      65,173

    

Formula Net

Dressed Steers & Heifers:

Head count priced today: 21,900

Weighted avg weight:       868 lbs.

Weighted avg net price:   197.04

        

Cattle Slaughter under Federal Inspection:

Friday (est)                        122,000

Week ago (est)                  116,000

Year ago (act)                    117,000

Week to Date                    612,000

Same Period Last Week   604,000

Same Period Last year     585,000

Previous Day (est)

Steers & Heifers:  96,000

Cows & Bulls:        26,000

                                                                                                               

Boxed Beef:

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

 

Cutout Values:

Choice: 214.49… -0.83

Select:  210.70… -0.50

Choice/Select Spread: 379

Total Load Count:  100

    

Cutter Cow Cutout:

186.95… -0.23

   

CME Feeder Cattle Index:

144.86… Thursday

   

Futures…

Live Cattle:

February: 124.85… +0.18

April: 124.30… +0.13

June: 116.02… -0.30

   

Feeder Cattle:

January: 141.85… -0.92

March: 139.67… -0.85

April: 142.50… -0.97

     

March Hogs: 67.22… -1.28

February Crude Oil: 54.19… -1.40

   

March Corn: 3.8725… -0.0650

March Soybeans: 9.0200… -0.0750

March Wheat: 5.7350… -0.0700

   

Grain Cash Bids:

Kansas City Corn: 3.96… -0.07

Kansas City Soybeans: 8.90… -0.07

Kansas City Wheat: 5.66… -0.07

   

Financial Markets:

DJIA: 28,989.73… -170.09

S & P 500: 3,295.45… -30.05

NASDAQ: 9,314.91… -87.57

U.S. Dollar Index: 97.88… +0.19