Texas Daily Ag Market News Summary

Slaughter Cattle:

As of 3:00 PM Friday, negotiated cash trade was light on light to moderate demand in all feeding regions. Compared to Wednesday in Kansas, a few live purchases traded 2.00-5.00 lower from 105.00-108.00. Not enough purchases in any other feeding regions for an adequate market test. The latest established live market in the Texas Panhandle was on Wednesday with live purchases at 110.00.  On Wednesday in Nebraska and the Western Cornbelt the bulk of live purchases traded at 110.00 dressed purchases from 175.00-176.00, bulk at 175.00.

Negotiated Sales:

Confirmed:        9,550

Week Ago:      13,795

Year Ago:          5,706

Formula Net

Dressed Steers & Heifers:

Head count priced today:  25,100

Weighted avg. weight:       866 lbs.

Weighted avg. net price:   180.77

Cattle Slaughter under Federal Inspection:

Friday (est)                        101,000

Week ago (est)                  119,000

Year ago (act)                    103,000

Week to Date                    586,000

Same Period Last Week   609,000

Same Period Last year     557,000

Previous Day (est)

Steers & Heifers:  91,000

Cows & Bulls:        26,000

Boxed Beef:

Boxed beef cutout values sharply higher on good demand and heavy offerings. Select and Choice chuck and round cuts firm to higher while rib cuts steady to firm. Choice loin cuts weak while Select firm.

Cutout Values:

Choice: 208.14… +2.13

Select:  201.98… +4.10

Choice/Select Spread: 6.16

Total Load Count: 153

Cutter Cow Cutout:

174.65… -0.64

CME Feeder Cattle Index for March 12th:

127.91… -3.13

Futures…

Live Cattle:

April: 95.57… -4.50

June: 89.75… -4.50

August: 89.17… -4.50

Feeder Cattle:

March: 113.00… -5.82

April: 112.60… -6.42

May: 114.47… -6.28

April Hogs: 56.37… -4.50

April Crude Oil: 31.73… +0.23

May Corn: 3.6575… Unchanged

May Soybeans: 8.4875… -0.1075

May Wheat: 5.0600… +0.0050

Grain Cash Bids:

Kansas City Corn: 3.77… -0.02

Kansas City Soybeans: 8.44… -0.11

Kansas City Wheat: 4.99… +0.01

Financial Markets:

DJIA: 23,181.21… +1,980.26

S & P 500: 2,709.09… +228.41

NASDAQ: 7,874.23… +672.43

U.S. Dollar Index: 98.71… +1.24