Mar 09 2020

Texas Daily Ag Market News Summary Posted 4 years 56 days ago by Administrator Account

Daily Market Summary for March 9th

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Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trade was limited on light to moderate demand in Nebraska and the Western Cornbelt. Both regions had early purchases mostly at 110.00 and 175.00, however not enough for an adequate market test. Trade was inactive on light demand in the Southern Plains. The latest established market in any feeding regions was last week with live purchases in the Southern Plains and Nebraska at 113.00. Dressed purchases last week in Nebraska traded from 180.00-182.00. Last week in the Western Cornbelt live purchases traded from 112.00-115.00 with dressed purchases from 180.00-182.00.

   

Negotiated Sales:

Confirmed:        4,743

Week Ago:            219

Year Ago:                83

    

Formula Net

Dressed Steers & Heifers:

Head count priced today:  47,500

Weighted avg. weight:       863 lbs.

Weighted avg. net price:   184.28

        

Cattle Slaughter under Federal Inspection:

Monday (est)                    122,000

Week ago (est)                  121,000

Year ago (act)                    120,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        24,000

                                                                                                              

Boxed Beef:

Boxed beef cutout values generally steady on light demand and offerings.  Select and Choice rib weak while chuck, round, and loin steady to firm.

Cutout Values:

Choice: 207.36… -0.11

Select:  202.32… -0.25

Choice/Select Spread: 5.04

Total Load Count: 92

    

Cutter Cow Cutout:

173.64… -0.85

   

CME Feeder Cattle Index for March 6th:

134.82… +0.95

   

Futures…

Live Cattle:

April: 102.85… -2.90

June: 97.10… -2.92

August: 98.07… -3.00

   

Feeder Cattle:

March: 126.20… -4.50

April: 125.55… -4.50

May: 126.65… -4.50

     

April Hogs: 63.00… -2.92

April Crude Oil: 31.13… -10.15

   

May Corn: 3.7275… -0.0325

May Soybeans: 8.7000… -0.2125

May Wheat: 5.1875… +0.0300

   

Grain Cash Bids:

Kansas City Corn: 3.86… -0.02

Kansas City Soybeans: 8.63… -0.23

Kansas City Wheat: 5.11… +0.03

   

Financial Markets:

DJIA: 23,850.36… -2,014.69

S & P 500: 2,746.24… -226.16

NASDAQ: 7,950.68… -624.94

U.S. Dollar Index: 94.95… -1.00