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Feb
07
2022

Texas Daily Ag Market News Summary

Posted 356 days ago ago by Administrator Account

Daily Market Summary for February 7th

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



Slaughter Cattle:

As of 3:00 PM Monday, negotiated cash trading has been mostly inactive on very light demand in the Western Cornbelt. Not enough purchases for a market trend. Negotiated cash trading has been at a standstill in all other major feeding regions. Last week in the Texas Panhandle live purchases traded at 140.00. In Kansas last week live purchases traded from 139.00-140.00. Last week in Nebraska live and dressed purchases traded from 138.00-140.00 and at 222.00, respectively. In the Western Cornbelt last week live and dressed purchases traded at 140.00 and from 220.00-222.00, respectively.

 

Negotiated Sales:

Confirmed:     573

Week Ago:      855

Year Ago:          39

Formula Net - Dressed Steers & Heifers:

Head count priced today:   36,900

Weighted avg. weight:         878.00

Weighted avg. net price:     219.79

 

Cattle Slaughter under Federal Inspection

Monday (est)                        121,000

Week ago (est)                     120,000

Year ago (act)                       113,000

Friday

Steers & Heifers:  88,000

Cows & Bulls:       26,000

 

Boxed Beef:

Cutout Values:

Choice: 278.96… -0.85

Select:  275.04… -1.01

Choice/Select Spread: 3.92

Total Load Count: 80

 

Cutter Cow Cutout:

232.21… +1.23

 

CME Feeder Cattle Index for February 4th:

160.14… -0.03 / -0.02%

1 Year Change: +18.21%

52 Week Range: 130.15 to 165.35

 

Futures Settlements…

Live Cattle:

February: 141.82… -0.23

April: 146.40… -0.47

June: 141.10… -0.27

 

Feeder Cattle:

March: 165.02… -1.08

April: 170.27… -1.15

May: 174.72… -0.63

 

April Hogs: 101.27… +1.20

March Crude Oil: 91.32… -0.99

 

March Corn: 6.3525… +0.1475

March Wheat: 7.6875… +0.0550

 

Grain Cash Bids:

Omaha Corn: 6.35… +0.14

Kansas City Wheat: 7.62… +0.05

 

Financial Markets:

DJIA: 35,090.86… +1.58

S & P 500: 4,484.00… -16.56

NASDAQ: 14,002.18… -91.85

U.S. Dollar Index: 95.44… -0.05