Mar 11 2020

Texas Daily Market News Summary Posted 4 years 54 days ago by Administrator Account

Daily Market Summary for March 11th  

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!

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated trade and demand was moderate in the Southern Plains and Nebraska. Compared to last week live purchases in the Southern Plains and Nebraska traded 3.00 lower at 110.00. Compared to last week in Nebraska early dressed purchases traded 5.00-6.00 lower from 175.00-176.00. Trade was light to moderate on moderate demand in the Western Cornbelt. Compared to last week in the Western Cornbelt, early live purchases traded 2.00-5.00 lower at 110.00 with early dressed purchases 5.00-7.00 lower mostly at 175.00.

    

Negotiated Sales:

Confirmed:     54,230

Week Ago:        9,584

Year Ago:        23,613

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  25,100

Weighted avg. weight:       865 lbs.

Weighted avg. net price:   184.97

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)              123,000

Week ago (est)                  122,000

Year ago (act)                    110,000

Week to Date                    368,000

Same Period Last Week   367,000

Same Period Last year     352,000

Previous Day (est)

Steers & Heifers:  97,000

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

Cutout Values:

Choice: 207.17… +0.08

Select:  196.49… -2.22

Choice/Select Spread: 10.68

Total Load Count: 154

     

Cutter Cow Cutout:

174.09… -0.40

    

CME Feeder Cattle Index for March 10th:

133.05… -0.21

    

Futures…

Live Cattle:

April: 103.07… -2.38

June: 97.25… -2.27

August: 96.67… -3.00

    

Feeder Cattle:

March: 123.32… -4.43

April: 123.52… -4.43

May: 125.25… -4.50

      

April Hogs: 63.87… -1.13

April Crude Oil: 32.98... -1.38

    

May Corn: 3.7450… -0.0300

May Soybeans: 8.7325… -0.0300

May Wheat: 5.1275… -0.0950

    

Grain Cash Bids:

Kansas City Corn: 3.88… -0.03

Kansas City Soybeans: 8.68… -0.02

Kansas City Wheat: 5.05… -0.1000

    

Financial Markets:

DJIA: 23,553.53… -1,464.63

S & P 500: 2,741.44… -140.79

NASDAQ: 7,952.05… -392.20

U.S. Dollar Index: 96.51… +0.10