Mar 18 2020

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

Daily Market Summary for March 18th

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading has been slow to moderate on moderate demand in all major feeding regions. In the Texas Panhandle a few live cash trades moved from 110.00 to 113.00 and in Kansas a few live cash trades moved from 110.00 to 113.00, mostly 112.00. However, not enough trades for a full market trend in either feeding region. Last reported market was on Tuesday with the Texas Panhandle live cash trades moving at 110.00 and in Kansas live cash trades moving from 110.00 to 112.00. So far for Wednesday in Nebraska a few live and dressed cash trades have moved from 111.00 to 112.00 and 175.00, respectively. However, not enough for a full market trend. The last reported market was on Tuesday with live cash trades moved at 110.00 and dressed cash trades moved from 170.00 to 175.00. Thus far for Wednesday in the Western

Cornbelt, when compared to last week, live cash trades moved 2.00 to 5.00 higher from 110.00 to 112.00 and dressed cash trades moved steady at 175.00.

Fed Cattle Exchange sold 1,813 head today, mostly @ $112.76.

   

Negotiated Sales:

Confirmed:     32,618

Week Ago:      54,230

Year Ago:             241

    

Formula Net

Dressed Steers & Heifers:

Head count priced today:  19,300

Weighted avg. weight:       872 lbs.

Weighted avg. net price:   178.37

        

Cattle Slaughter under Federal Inspection:

Wednesday (est)              122,000

Week ago (est)                  123,000

Year ago (act)                    121,000

Week to Date                    359,000

Same Period Last Week   368,000

Same Period Last year     360,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        26,000

                                                                                                              

Boxed Beef:

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

Cutout Values:

Choice: 247.24… +7.31

Select:  238.50… +9.18

Choice/Select Spread: 8.74

Total Load Count: 228

        

Cutter Cow Cutout:

178.69… +3.69

   

CME Feeder Cattle Index for March 17th:

123.36… -0.64

   

Futures…

Live Cattle:

April: 92.10… -4.25

June: 85.92… -3.83

August: 86.65… -2.92

   

Feeder Cattle:

March: 112.57… -0.98

April: 109.62… -1.25

May: 108.52… -3.33

     

April Hogs: 58.15… -0.32

April Crude Oil: 20.37… -6.58

   

May Corn: 3.3525… -0.0875

May Soybeans: 8.2550… +0.0125

May Wheat: 5.0825… -0.0900

   

Grain Cash Bids:

Kansas City Corn: 3.44… -0.11

Kansas City Soybeans: 8.21… +0.02

Kansas City Wheat: 5.01… +0.09

   

Financial Markets:

DJIA: 19,902.82… -1,334.49

S & P 500: 2,398.32… -130.87

NASDAQ: 6,989.84… -344.94

U.S. Dollar Index: 101.02… +1.45