Feb 27 2020

Texas Daily Market News Summary Posted 4 years 65 days ago by Administrator Account

Daily Market Summary for February 27th

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!

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Slaughter Cattle:

As of 3:00 PM Thursday, negotiated cash trade and demand was light to moderate in Nebraska and the Western Cornbelt. In the Western Cornbelt compared to Wednesday, dressed purchases traded mostly 2.00-4.00 lower from 180.00-183.00, bulk at 183.00. Not enough live purchases for an adequate market test. The latest established live market in the Western Cornbelt was last week, with purchases ranging from 119.00-120.00. A few purchases were reported in Nebraska ranging from 112.00-114.00 and from 183.00-184.00, however not enough for an adequate market test. The latest established live market in Nebraska was on Wednesday with purchases at 115.00. On Tuesday in Nebraska, dressed purchases traded from 185.00-187.00. Trade was mostly inactive on light demand in the Southern Plains. The latest established market in the Southern Plains was on Tuesday with live purchases at 115.00.

    

Negotiated Sales:

Confirmed:      9,817

Week Ago:     26,683

Year Ago:            329

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  29,000

Weighted avg. weight:       881 lbs.

Weighted avg. net price:   192.12

         

Cattle Slaughter under Federal Inspection:

Thursday (est)                   122,000

Week ago (est)                  122,000

Year ago (act)                    119,000

Week to Date                    487,000

Same Period Last Week   474,000

Same Period Last year     471,000

Previous Day (est)

Steers & Heifers:  96,000

Cows & Bulls:        27,000

                                                                                                               

Boxed Beef:

Boxed beef cutout values lower on Choice and higher on Select on light to moderate demand and moderate to heavy offerings. Select and Choice rib, chuck, and round cuts steady to firm. Choice loin cuts steady while Select higher. Beef trimmings not fully established.

Cutout Values:

Choice: 205.54… -0.80

Select:  199.69… +1.09

Choice/Select Spread: 5.85

Total Load Count: 182

     

Cutter Cow Cutout:

175.85… -0.06

    

CME Feeder Cattle Index for Feb. 26th:

138.04… -1.57

    

Futures…

Live Cattle:

February: 112.62… -1.45

April: 110.47… -1.88

June: 103.92… -1.10

    

Feeder Cattle:

March: 132.57… -1.50

April: 134.07… -1.90

May: 135.55… -1.32

      

April Hogs: 62.55… -2.60

April Crude Oil: 47.09… -1.64

    

March Corn: 3.6450… -0.0600

March Soybeans: 8.8625… +0.0525

March Wheat: 5.2925… -0.1100

    

Grain Cash Bids:

Kansas City Corn: 3.80… -0.06

Kansas City Soybeans: 8.88… +0.05

Kansas City Wheat: 5.22… -0.11

    

Financial Markets:

DJIA: 25,766.64… -1,191.22

S & P 500: 2,978.76… -137.67

NASDAQ: 8,566.48… -414.29

U.S. Dollar Index: 98.47… -0.53