Mar 17 2020

Texas Daily Ag Market News Summary Posted 4 years 48 days ago by Administrator Account

Daily Market Summary for March 17th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading was limited on light demand in all major feeding regions. In Nebraska a few live and dressed cash trades moved at 110.00 and from 170.00-175.00. However, not enough for a full market trend. Monday was the last fully reported market, in Nebraska, with live and dressed cash trades at 105.00 and 170.00, respectively. In the Southern Plains the last reported market was on Monday with live cash trades in Kansas at 100.00 and in the Texas Panhandle from 105.00-110.00. In the Western Cornbelt the last reported market was last week with live cash trades from 105.00-110.00 and dressed cash trades at 175.00.

   

Negotiated Sales:

Confirmed:     14,759

Week Ago:           144

Year Ago:           None

    

Formula Net

Dressed Steers & Heifers:

Head count priced today:  22,200

Weighted avg. weight:       856 lbs.

Weighted avg. net price:   180.56

        

Cattle Slaughter under Federal Inspection:

Tuesday (est)                     121,000

Week ago (est)                  123,000

Year ago (act)                    121,000

Week to Date                    237,000

Same Period Last Week   245,000

Same Period Last year     239,000

Previous Day (est)

Steers & Heifers:  92,000

Cows & Bulls:        24,000

                                                                                                               

Boxed Beef:

Boxed beef cutout values sharply higher on good demand and heavy offerings. Select and Choice rib, chuck, round, and loin cuts sharply higher.

Cutout Values:

Choice: 239.93… +15.57

Select:  229.32… +12.61

Choice/Select Spread: 10.61

Total Load Count: 268

The Choice Cutout has gained 31.79 in the past 2 days, a 13.5% increase.

      

Cutter Cow Cutout:

175.00… +0.40

   

CME Feeder Cattle Index for March 14th:

124.00… -0.67

   

Futures…

Live Cattle:

April: 96.35… +4.50

June: 89.75… +4.50

August: 89.57… +4.50

   

Feeder Cattle:

March: 113.55… +5.05

April: 110.87… +2.77

May: 111.85… +1.88

     

April Hogs: 58.47… +4.50

April Crude Oil: 26.95… -1.75

   

May Corn: 3.4400… -0.1075

May Soybeans: 8.2425… +0.0250

May Wheat: 4.9925… +0.0125

   

Grain Cash Bids:

Kansas City Corn: 3.55… -0.11

Kansas City Soybeans: 8.19… +0.02

Kansas City Wheat: 4.92… +0.01

   

Financial Markets:

DJIA: 21,237.31… +1,050.59

S & P 500: 2,529.19… +143.08

NASDAQ: 7,334.78… +430.19

U.S. Dollar Index: 99.57… +1.50