May 12 2020

Texas Daily Ag Market News Summary Posted 4 years 200 days ago by Administrator Account

Daily Market Summary for May 12^th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Tuesday, in Kansas, Nebraska and Western Cornbelt negotiated cash trading has been limited on light demand. In Kansas a few early live trades moved at 110.00. In the Western Cornbelt a few early dressed trades moved at 185.00. However, not enough trades in either region for a full market trend. The latest established market in any region was last week with live purchases in the Southern Plains from 95.00 to 115.00. For the prior week in Nebraska live and dressed purchases trade mostly at 95.00 and 150.00, respectively. For the previous week in the Western Cornbelt live purchases traded mostly at 103.00 with dressed purchases mostly from 170.00-180.00.

    

Negotiated Sales:

Confirmed:          5,261

Week Ago:           5,965

Year Ago:             1,190

       

Formula Net

Dressed Steers & Heifers:

Head count priced today: 13,500

Weighted avg. weight:       884 lbs.

Weighted avg. net price:   165.95

         

Cattle Slaughter under Federal Inspection:

Tuesday (est)                        89,000

Week ago (est)                     80,000

Year ago (act)                     122,000

Week to Date                      175,000

Same Period Last Week     155,000

Same Period Last year       242,000

Previous Day (est)

Steers & Heifers:  64,000

Cows & Bulls:        22,000

                                                                                                               

Boxed Beef:

Cutout Values:

Choice: 475.39… +6.81

Select:  450.97… -2.00

Choice/Select Spread: 24.42

Total Load Count: 132

         

Cutter Cow Cutout:

236.85… +12.66

    

CME Feeder Cattle Index for May 8th:

122.60… +1.46

        

Futures…

Live Cattle:

June: 97.17… +4.50

August: 101.70… +4.50

October: 104.17… +2.90

    

Feeder Cattle:

May: 127.30… +3.65

August: 135.75… +3.08

September: 137.10… +3.05

      

May Hogs: 68.02… +1.70

June Crude Oil: 25.78… +1.64

    

July Corn: 3.2225… +0.0375

July Soybeans: 8.5200… -0.0300

July Wheat: 5.1450… -0.0275

    

Grain Cash Bids:

Kansas City Corn: 3.23… +0.04

Kansas City Soybeans: 8.42… -0.03

Kansas City Wheat: 4.94… -0.03

    

Financial Markets:

DJIA: 23,764.78…-457.21

S & P 500: 2,870.12… -60.07

NASDAQ: 9,002.55… -189.79

U.S. Dollar Index: 99.97… -0.27