Mar 12 2020

Texas Daily Market News Summary Posted 4 years 53 days ago by Administrator Account

Daily Market Summary for March 12th

  

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 Thursday, negotiated trade was limited on light to moderate demand in the Southern Plains and Nebraska. A few live purchases in the Southern Plains were reported at 105.00, however not enough for an adequate market test. Trade was light on light to moderate demand in the Western Cornbelt with a few purchases from 105.00 and 170.00, however not enough for an adequate market test. The latest established market was on Wednesday with the bulk of live purchases in all feeding regions at 110.00. On Wednesday in Nebraska and the Western Cornbelt dressed purchases traded from 175.00-176.00, bulk at 175.00.

    

Negotiated Sales:

Confirmed:     12,759

Week Ago:      42,894

Year Ago:           4,341

     

Formula Net

Dressed Steers & Heifers:

Head count priced today:  27,300

Weighted avg. weight:       878 lbs.

Weighted avg. net price:   182.87

         

Cattle Slaughter under Federal Inspection:

Thursday (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 lower on Choice and higher on Select on light to moderate demand and moderate to heavy offerings. Select and Choice rib and round cuts steady to firm. Choice chuck and loin cuts weak to lower while Select firm.

Cutout Values:

Choice: 206.01… -1.16

Select:  197.88… +1.39

Choice/Select Spread: 8.13

Total Load Count: 153

     

Cutter Cow Cutout:

175.29… -1.20

    

CME Feeder Cattle Index for March 11th:

131.04… -2.01

    

Futures…

Live Cattle:

April: 100.07… -3.00

June: 94.25… -3.00

August: 93.67… -3.00

    

Feeder Cattle:

March: 118.82… -4.50

April: 109.02… -4.50

May: 120.75… -4.50

      

April Hogs: 60.87… -3.00

April Crude Oil: 31.50… -1.48

    

May Corn: 3.6575… -0.0875

May Soybeans: 8.5950… -0.1375

May Wheat: 5.0550… -0.0725

    

Grain Cash Bids:

Kansas City Corn: 3.79… -0.09

Kansas City Soybeans: 8.55… -0.14

Kansas City Wheat: 4.98… -0.07

    

Financial Markets:

DJIA: 21,200.95… -2,352.58

S & P 500: 2,480.68… -260.76

NASDAQ: 7,201.80… -750.25

U.S. Dollar Index: 97.38… +0.87