May 07 2020

Texas Daily Ag Market News Summary Posted 4 years 205 days ago by Administrator Account

Daily Market Summary for May 7th

The Daily Market News Report 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 Thursday, negotiated trade was limited on light to moderate demand in Nebraska and the Western Cornbelt. Trade was inactive on light demand in the Southern Plains. Not enough purchases in any feeding region for an adequate market test. The latest established market in any region was on Wednesday, with live purchases in the Southern Plains from 95.00-110.00, bulk at 110.00. In Nebraska on Wednesday live purchases traded at 95.00 with dressed purchases from 145.00-180.00, bulk at 150.00. Dressed purchases on Wednesday in the Western Cornbelt traded from 145.00-180.00, bulk at 180.00. The latest established live market in the Western Cornbelt was last week with purchases from 93.00-100.00.

    

Negotiated Sales:

Confirmed:        2,318

Week Ago:         6,390

Year Ago:           5,552

       

Formula Net

Dressed Steers & Heifers:

Head count priced today:  7,900

Weighted avg. weight:       872 lbs.

Weighted avg. net price:   166.22

         

Cattle Slaughter under Federal Inspection:

Thursday (est)                      86,000

Week ago (est)                     80,000

Year ago (act)                     118,000

Week to Date                     323,000

Same Period Last Week   301,000

Same Period Last year     477,000

Previous Day (est)

Steers & Heifers:  59,000

Cows & Bulls:        23,000

                                                                                                               

Boxed Beef:

Cutout Values:

Choice: 458.54… +9.36

Select:  448.57… +16.61

Choice/Select Spread: 9.97

Total Load Count: 95

         

Cutter Cow Cutout:

213.38… +1.78

    

CME Feeder Cattle Index for May 5th:

119.50… -0.09

        

Futures…

Live Cattle:

June: 93.97… +4.50

August: 99.95… +4.50

October: 104.02… +4.50

    

Feeder Cattle:

May: 130.27… +6.17

August: 138.15… +5.40

September: 139.02… +5.07

      

May Hogs: 68.80… +0.70

June Crude Oil: 23.55… -0.44

    

May Corn: 3.1600… +0.0425

May Soybeans: 8.4150… +0.1100

May Wheat: 5.2900… +0.0425

    

Grain Cash Bids:

Kansas City Corn: 3.19… +0.04

Kansas City Soybeans: 8.34… +0.11

Kansas City Wheat: 5.03… +0.05

    

Financial Markets:

DJIA: 23,875.89… +221.25

S & P 500: 2,881.19… +32.77

NASDAQ: 8,979.66… +125.27

U.S. Dollar Index: 99.88… -0.21