Mar 02 2020

Texas Daily Ag Market News Summary Posted 4 years 60 days ago by Administrator Account

Daily Market Summary for March 2nd

​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 Monday, negotiated cash trading in the Southern Plains and Nebraska has been at a standstill. In the Western Cornbelt negotiated cash trading has been very inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved mostly at 115.00 and dressed cash trades, in Nebraska moved from 185.00-187.00. For the prior week in the Western Cornbelt live cash trades ranged from 112.00-117.00 and dressed cash trades ranged from 180.00-187.00.

    

Negotiated Sales:

Confirmed:         219

Week Ago:       2,498

Year Ago:          1,871

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  37,100

Weighted avg. weight:       859 lbs.

Weighted avg. net price:   191.17

         

Cattle Slaughter under Federal Inspection:

Monday (est)                     121,000

Week ago (est)                  118,000

Year ago (act)                    117,000

Previous Day (est)

Steers & Heifers:  91,000

Cows & Bulls:        24,000

                                                                                                               

Boxed Beef:

Boxed beef cutout values higher on good demand and light to moderate offerings. Select and Choice chuck, round, and loin cuts steady to firm. Choice rib cuts steady while Select higher.

Cutout Values:

Choice: 206.53… +1.23

Select:  201.16… +2.25

Choice/Select Spread: 5.37

Total Load Count: 79

     

Cutter Cow Cutout:

176.47… +0.62

    

CME Feeder Cattle Index for Feb. 28th:

133.52... -2.08

    

Futures…

Live Cattle:

April: 110.15… +2.58

June: 103.97… +2.77

August: 104.35… +2.08

    

Feeder Cattle:

March: 133.72… +2.45

April: 135.05… +2.35

May: 135.97… +2.45

      

April Hogs: 62.80… +0.53

April Crude Oil: 46.75… +1.99

    

May Corn: 3.7550… +0.0725

May Soybeans: 9.0100… +0.0825

May Wheat: 5.2325… -0.0175

    

Grain Cash Bids:

Kansas City Corn: 3.87… +0.05

Kansas City Soybeans: 8.95… +0.11

Kansas City Wheat: 5.16… -0.06

    

Financial Markets:

DJIA: 26,706.17… +1.296.20

S & P 500: 3,090.52… +136.44

NASDAQ: 8,952.17… +384.80

U.S. Dollar Index: 97.58… -0.55