Feb 26 2020

Texas Daily Market News Summary Posted 4 years 69 days ago by Administrator Account

Daily Market Summary for February 29th

  

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was light on light to moderate demand in all feeding regions, however not enough purchases in any feeding for an adequate market test. The latest established market in any feeding region was on Tuesday with live purchases in the Southern Plains at 115.00. On Tuesday in Nebraska, live purchases traded at 115.00, with dressed purchases from 185.00-187.00. In the Western Cornbelt on Tuesday, dressed purchases traded from 185.00-187.00. Not enough live purchases for an adequate market test. The latest established live market in the Western Cornbelt was last week with live purchases from 119.00-120.00.

    

Negotiated Sales:

Confirmed:      9,969

Week Ago:       3,695

Year Ago:            423

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  19,300

Weighted avg. weight:       864 lbs.

Weighted avg. net price:   191.47

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)               123,000

Week ago (est)                  122,000

Year ago (act)                   119,000

Week to Date                    365,000

Same Period Last Week   352,000

Same Period Last year     352,000

Previous Day (est)

Steers & Heifers:  98,000

Cows & Bulls:        26,000

                                                                                                               

Boxed Beef:

Boxed beef cutout values lower on light demand and heavy offerings. Select and Choice rib, round, and loin cuts steady to weak while chuck cuts weak to lower.

Cutout Values:

Choice: 206.34… -1.13

Select:  198.60… -1.30

Choice/Select Spread: 7.74

Total Load Count: 164

     

Cutter Cow Cutout:

175.91… -4.76

    

CME Feeder Cattle Index for Feb. 25th:

139.61… -0.11

    

Futures…

Live Cattle:

February: 114.07… -0.95

April: 112.35… -0.60

June: 105.02… -0.78

    

Feeder Cattle:

March: 134.07… +1.10

April: 135.97… +1.85

May: 136.87… +1.07

      

April Hogs: 65.15… +0.48

April Crude Oil: 48.73… -1.17

    

March Corn: 3.7050… -0.0200

March Soybeans: 8.8100… +0.0200

March Wheat: 5.4025… +0.0125

    

Grain Cash Bids:

Kansas City Corn: 3.86… -0.01

Kansas City Soybeans: 8.83… +0.04

Kansas City Wheat: 5.33… +0.01

    

Financial Markets:

DJIA: 26,597.86… -124.11

S & P 500: 3,116.43… -11.89

NASDAQ: 8,980.77… +15.16

U.S. Dollar Index: 99.10… +0.13