May 28 2020

Texas Daily Ag Market News Summary Posted 4 years 184 days ago by Administrator Account

Daily Market Summary for May 28^th

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Slaughter Cattle:

As of 3:00 PM Thursday in the Southern Plains, negotiated cash trading and demand have been moderate. In the Texas Panhandle, when compared to last week, live trades moved steady to 5.00 lower ranging from 115.00 to 120.00. In Kansas, when compared to the last reported market on Wednesday, the bulk of live trades moved 5.00 lower at 115.00, with a few up to 120.00. Thus far for Thursday in Nebraska and Western Cornbelt negotiated cash trading has been slow on light demand. In Nebraska, when compared to the last live trade market on Tuesday, live trades moved 5.00 to 7.00 higher from 119.00 to 120.00. A few dressed trades moved at 190.00. However, not enough for a market trend. In Nebraska Wednesday was the last reported dressed market with trades ranging from 178.00 to 190.00. In the Western Cornbelt a few dressed trades moved at 190.00. However, not enough for a market trend. The last reported live and dressed market was on Wednesday with live trades mostly at 115.00 and dressed trades mostly ranging from 178.00 to 185.00.                    

   

Negotiated Sales:

Confirmed:            31,801

Week Ago:               8,859

Year Ago:               20,782

      

Formula Net

Dressed Steers & Heifers:

Head count priced today:  13,300

Weighted avg. weight:       929 lbs.

Weighted avg. net price:    189.75

        

Cattle Slaughter under Federal Inspection:

Thursday (est)                    110,000

Week ago (est)                   103,000

Year ago (act)                     121,000

Week to Date                     330,000

Same Period Last Week   397,000

Same Period Last year     369,000

Previous Day (est)

Steers & Heifers:  87,000

Cows & Bulls:        23,000

                                                                                                               

Boxed Beef:

Cutout Values:

Choice: 369.56… -8.21

Select:  344.09… -6.11

Choice/Select Spread: 25.47

Total Load Count: 149

        

Cutter Cow Cutout:

237.80… -0.86

   

CME Feeder Cattle Index for May 26^th:

126.44… -0.52

       

Futures…

Live Cattle:

June: 101.47… +0.67

August: 101.17… +0.45

October: 102.80… -0.05

   

Feeder Cattle:

August: 135.50… +1.48

September: 136.25… +1.18

October: 136.77… +0.85

     

July Hogs: 56.92… -3.25

July Crude Oil: 33.71… +0.90

   

July Corn: 3.2750… +0.0700

July Soybeans: 8.4700… -0.0150

July Wheat: 5.1450… +0.1000

   

Grain Cash Bids:

Kansas City Corn: 3.31… +0.07

Kansas City Soybeans: 8.36… -0.02

Kansas City Wheat: 4.95… +0.10

   

Financial Markets:

DJIA: 25,400.64… -147.63

S & P 500: 3,029.73… -6.40

NASDAQ: 9,368.99… -43.37

U.S. Dollar Index: 98.54… -0.52