Jan 31 2020

Texas Daily Market News Summary Posted 4 years 302 days ago by Administrator Account

Daily Market Summary for January 31st 

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

---

Slaughter Cattle:

As of 3:00 PM Friday, trade was light on light to moderate demand in Nebraska and the Western Cornbelt.  Compared to last week in Nebraska, dressed purchases traded 4.00 lower at 195.00. A few live purchases were reported at 122.00 in Nebraska however not enough for an adequate market test.Last week in Nebraska live purchases traded at 124.00. In the Western Cornbelt, compared to Thursday dressed purchases traded unevenly steady at 195.00. On Thursday live purchases traded from 122.00-123.00. Trade was limited on light to moderate demand in the Southern Plains however not enough purchases for an adequate market test. The latest established market in the Southern Plains was on Thursday with live purchases at 122.00.

    

Negotiated Sales:

Confirmed:  15,617

Week Ago:     2,607

Year Ago:       4,328

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 26,900

Weighted avg. weight:       861 lbs.

Weighted avg. net price:   198.52

         

Cattle Slaughter under Federal Inspection:

Friday (est)                        122,000

Week ago (est)                  122,000

Year ago (act)                    105,000

Week to Date                    607,000

Same Period Last Week   612,000

Same Period Last year     568,000

Previous Day (est)

Steers & Heifers:  96,000

Cows & Bulls:        27,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 213.00… -0.35

Select:  210.66… -0.82

Choice/Select Spread: 2.34

Total Load Count: 74

     

Cutter Cow Cutout:

187.85… +1.19

    

CME Feeder Cattle Index:

142.38… -0.50

    

Futures…

Live Cattle:

February: 121.37… -0.40

April: 119.67… -0.53

June: 111.57… 0.45

    

Feeder Cattle:

March: 136.07… +0.42

April: 137.52… +0.40

May: 139.70… +0.43

      

March Hogs: 57.12… -4.18

February Crude Oil: 52.14

    

March Corn: 3.8125… +0.0175

March Soybeans: 8.7250… -0.0375

March Wheat: 5.5375… -0.0675

    

Grain Cash Bids:

Kansas City Corn: 3.92… +0.03

Kansas City Soybeans: 8.63… -0.02

Kansas City Wheat: 5.46… -0.07

    

Financial Markets:

DJIA: 28,255.76… -603.68

S & P 500: 3,225.42… -58.24

NASDAQ: 9,150.94… -147.99

U.S. Dollar Index: 97.40… -0.47