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Jan
29
2020

Texas Daily Market News Summary

Posted 4 years 304 days ago by Administrator Account

Daily Market Summary for January 29th

   

The Daily Market News Report is brought to you by The Cattle Range. 



Slaughter Cattle:
As of 3:00 PM Wednesday, negotiated cash trading has been at a standstill in the Southern Plains. In Nebraska and the Western Cornbelt negotiated cash trade has been mostly inactive on very light demand. Not enough trades for a market trend. The latest established market in any feeding region was last week with live trades in the Southern Plains and Nebraska at 124.00. Dressed trades in Nebraska last week traded at 199.00. In the Western Cornbelt last week, live trades moved from 124.00-126.00, bulk from 124.00-125.00 with dressed trades mostly from 198.00-199.00, with a few up to 199.50.
The FCE On-Line Auction offered 477 head on Wednesday with none sold.
    
Negotiated Sales:
Confirmed:       893
Week Ago:  22,076
Year Ago:            68
     
Formula Net
Dressed Steers & Heifers:
Head count priced today: 26,000
Weighted avg. weight:       877 lbs.
Weighted avg. net price:   199.77
         
Cattle Slaughter under Federal Inspection:
Wednesday (est)              123,000
Week ago (est)                  123,000
Year ago (act)                    112,000
Week to Date                    362,000
Same Period Last Week   368,000
Same Period Last year     348,000
Previous Day (est)
Steers & Heifers:  92,000
Cows & Bulls:        25,000
                                                                                                               
Boxed Beef:
Boxed beef cutout values firm on Choice and steady on Select on light to moderate demand and moderate offerings. Select and Choice chuck, round, and loin cuts steady to firm while rib cuts steady to weak. Beef trimmings mostly moderately lower on light demand and moderate offerings.
Cutout Values:
Choice: 213.52… +0.67
Select:  211.93… -0.23
Choice/Select Spread: 1.59
Total Load Count:  127
     
Cutter Cow Cutout:
186.65… -0.56
    
CME Feeder Cattle Index:
143.59… -0.17
    
Futures…
Live Cattle:
February: 121.75… -0.40
April: 120.22… -0.48
June: 112.00… -0.47
    
Feeder Cattle:
January: 142.10… +0.05
March: 134.97… -0.43
April: 137.07… -0.70
      
March Hogs: 64.30… -1.92
February Crude Oil: 53.33… -0.15
    
March Corn: 3.8425… -0.0225
March Soybeans: 8.9300… -0.0200
March Wheat: 5.6225… -0.0750
    
Grain Cash Bids:
Kansas City Corn: 3.94… -0.02
Kansas City Soybeans: 8.82… +0.01
Kansas City Wheat: 5.55… -0.07
    
Financial Markets:
DJIA: 28,735.09… +12.24
S & P 500: 3,273.46… -2.79
NASDAQ: 9,275.16… +5.48
U.S. Dollar Index: 98.09… +0.08