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Feb
28
2022

Texas Daily Ag Market News Summary

Posted 335 days ago ago by Administrator Account

Daily Market Summary for February 28th

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 at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been mostly inactive on very light demand. Not enough purchases for a market trend. Last week in the Southern Plains live purchases traded at 142.00. In Nebraska live purchases traded from 142.00-114.00 and dressed purchases traded at 227.00. In the Western Cornbelt live and dressed purchases traded at 144.00 and 227.00, respectively.

 

Negotiated Sales:

Confirmed:           382

Week Ago:            276

Year Ago:              118

Formula Net - Dressed Steers & Heifers:

Head count priced today:   54,900

Weighted avg. weight:        872.00

Weighted avg. net price:     226.48

 

Cattle Slaughter under Federal Inspection

Monday (est)                       122,000

Week ago (est)                     108,000

Year ago (act)                       118,000

Monday

Steers & Heifers:  93,000

Cows & Bulls:        26,000

 

Boxed Beef:

Cutout Values:

Choice: 257.51… -0.76

Select:  253.41… -2.00

Choice/Select Spread: 4.10

Total Load Count: 85

 

Cutter Cow Cutout:

229.47… +1.34

 

CME Feeder Cattle Index for February 25th:

159.91… -0.67 / -0.42%

1 Year Change: +15.58%

52 Week Range: 130.15 to 165.35

 

Futures Settlements…

Live Cattle:

February: 140.50… +1.23

April: 141.42… -0.50

June: 137.70… -0.60

 

Feeder Cattle:

March: 157.72… -2.30

April: 162.00… -2.75

May: 167.80… -2.80

 

April Hogs: 103.50… -0.17

April Crude Oil: 95.71… +4.12

 

March Corn: 6.9750… +0.3800

March Wheat: 9.2800… +0.8500

 

Grain Cash Bids:

Omaha Corn: 6.98… +0.38

Kansas City Wheat: 9.24… +0.67

 

Financial Markets:

DJIA: 33,879.22… -179.33

S & P 500: 4,373.68… -10.94

NASDAQ: 13,752.34… +56.87

U.S. Dollar Index: 96.75… +0.13