Feb 28 2020

Texas Daily Ag Market News Summary Posted 4 years 63 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!

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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