Mar 04 2020

Texas Daily Market News Summary Posted 4 years 269 days ago by Administrator Account

Daily Market Summary for March 4th

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!

---

Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade was light to moderate on moderate demand in the Southern Plains. Compared to last week in the Southern Plains, live purchases traded 2.00 lower at 113.00. Trade was mostly inactive on light to moderate demand in all other feeding regions. The latest established market in Nebraska was last week with live purchases mostly at 115.00 with dressed purchases from 185.00-187.00. For the prior week in the Western Cornbelt live purchases traded from 112.00-117.00 with dressed purchases from 180.00-187.00.

    

Negotiated Sales:

Confirmed:       9,584

Week Ago:        9,969

Year Ago:            530

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  19,900

Weighted avg. weight:       865 lbs.

Weighted avg. net price:   188.30

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)              122,000

Week ago (est)                  123,000

Year ago (act)                    115,000

Week to Date                    367,000

Same Period Last Week   365,000

Same Period Last year     353,000

Previous Day (est)

Steers & Heifers:  98,000

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 chuck, round, and loin cuts steady to firm. Choice rib cuts steady while Select lower.

Cutout Values:

Choice: 206.82… +0.20

Select:  201.51… -1.19

Choice/Select Spread: 5.31

Total Load Count: 170

     

Cutter Cow Cutout:

174.39… -1.24

    

CME Feeder Cattle Index for March 3rd:

133.75… -0.25

    

Futures…

Live Cattle:

April: 111.27… +1.17

June: 104.52… +1.15

August: 104.55… +1.00

    

Feeder Cattle:

March: 134.85… +1.33

April: 135.55… +1.78

May: 136.42… +2.37

      

April Hogs: 64.30… +0.75

April Crude Oil: 46.78… -0.40

    

May Corn: 3.8500… +0.0375

May Soybeans: 9.0725… +0.0375

May Wheat: 5.1825… -0.0900

    

Grain Cash Bids:

Kansas City Corn: 3.96… +0.04

Kansas City Soybeans: 9.02… +0.04

Kansas City Wheat: 5.11… -0.09

    

Financial Markets:

DJIA: 27,090.48… +1,175.99

S & P 500: 3,130.09… +126.99

NASDAQ: 9,018.09… +334.00

U.S. Dollar Index: 97.37… +0.22