Feb 03 2020

Texas Daily Ag Market News Summary Posted 4 years 299 days ago by Administrator Account

Daily Market Summary for February 3rd

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved at 122.00 In Nebraska dressed cash trades moved at 195.00 for the prior week. In the Western Cornbelt live cash trades moved from 122.00-123.00 and the bulk of dressed cash trades moved from 194.00-195.00.

    

Negotiated Sales:

Confirmed:     430

Week Ago:      191

Year Ago:          38

    

Formula Net

Dressed Steers & Heifers:

Head count priced today: 36,800

Weighted avg. weight:       868 lbs.

Weighted avg. net price:   197.17

        

Cattle Slaughter under Federal Inspection:

Monday (est)                     121,000

Week ago (est)                  122,000

Year ago (act)                    118,000

Previous Day (est)

Steers & Heifers:  98,000

Cows & Bulls:        24,000

                                                                                                               

Boxed Beef:

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

 

Cutout Values:

Choice: 211.56… -1.44

Select:  207.42… -3.24

Choice/Select Spread: 4.14

Total Load Count: 103

    

Cutter Cow Cutout:

187.33… -0.52

   

CME Feeder Cattle Index:

141.98… -0.40

   

Futures…

Live Cattle:

February: 121.67… +0.30

April: 120.72… +1.05

June: 112.00… +0.43

   

Feeder Cattle:

March: 136.65… +0.58

April: 138.35… +0.83

May: 140.80… +1.10

     

April Hogs: 62.72… +1.12

February Crude Oil: 50.11… -1.45

   

March Corn: 3.7875… -0.0250

March Soybeans: 8.7700… +0.0450

March Wheat: 5.5550… +0.0175

   

Grain Cash Bids:

Kansas City Corn: 3.90… -0.02

Kansas City Soybeans: 8.70… +0.07

Kansas City Wheat: 5.53… +0.07

   

Financial Markets:

DJIA: 28,399.07… +143.31

S & P 500: 3,248.87… +23.45

NASDAQ: 9,273.40… +122.46

U.S. Dollar Index: 97.85… +0.45