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Feb
28
2020

Texas Daily Ag Market News Summary

Posted 4 years 144 days ago by Administrator Account

Daily Market Summary for February 28th
​The Daily Market News Report 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, negotiated cash trade was light on light to moderate in the Western Cornbelt. A few dressed purchases in the Western Cornbelt were reported from 178.00-182.00, however not enough for an adequate market test. Trade was mostly inactive on light demand in all other feeding regions. The latest established dressed market in the Western Cornbelt was on Thursday with dressed purchases from 180.00-183.00, bulk at 183.00. Live purchases in the Western Cornbelt traded from 119.00-120.00 last week. 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. The latest established market in the Southern Plains was on Tuesday with live purchases at 115.00.
    
Negotiated Sales:
Confirmed:      5,215
Week Ago:       8,587
Year Ago:       38,758
     
Formula Net
Dressed Steers & Heifers:
Head count priced today:  22,600
Weighted avg. weight:       856 lbs.
Weighted avg. net price:   191.00
         
Cattle Slaughter under Federal Inspection:
Friday (est)                        115,000
Week ago (est)                  121,000
Year ago (act)                    117,000
Week to Date                    602,000
Same Period Last Week   595,000
Same Period Last year     588,000
Previous Day (est)
Steers & Heifers:  96,000
Cows & Bulls:        26,000
                                                                                                               
Boxed Beef:
Boxed beef cutout values steady on Choice and lower on Select on light to moderate demand and moderate offerings. Select and Choice rib, chuck, round, and loin cuts steady to weak.
Cutout Values:
Choice: 205.30… -0.24
Select:  198.91… -0.78
Choice/Select Spread: 6.39
Total Load Count: 104
     
Cutter Cow Cutout:
176.47… +0.62
    
CME Feeder Cattle Index for Feb. 26th:
138.04
    
Futures…
Live Cattle:
February: 112.70… +0.08
April: 107.57… -2.90
June: 101.20… -2.72
    
Feeder Cattle:
March: 131.27… -1.30
April: 132.70… -1.37
May: 133.52… -2.03
      
April Hogs: 62.27… -0.28
April Crude Oil: 44.76… -2.33
    
March Corn: 3.6650… +0.0200
March Soybeans: 8.8350… -0.0275
March Wheat: 5.2900… -0.0025
    
Grain Cash Bids:
Kansas City Corn: 3.82… +0.02
Kansas City Soybeans: 8.84… -0.04
Kansas City Wheat: 5.22… Unchanged
    
Financial Markets:
DJIA: 25,409.97… -356.67
S & P 500: 2,954.08… -24.68
NASDAQ: 8,567.37… +0.89
U.S. Dollar Index: 98.03… -0.48






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