Mar 08 2022

Texas Daily Ag Market News Summary Posted 2 years 43 days ago by Administrator Account

Daily Market Summary for March 8^th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been slow on light demand in the Southern Plains. Compared to last week live purchases traded 2.00 lower at 138.00, on a light test. In Nebraska negotiated cash trading has been limited on light demand. Live purchases traded steady at 138.00, when compared to the last reported market on Monday. Last week dressed purchases traded from 224.00-225.00. Thus far for Tuesday in the Western Cornbelt negotiated cash trading has been mostly inactive on light demand. Not enough purchases for a market trend. For the prior week live purchases traded at 142.00 and from 224.00-225.00, respectively.

 

Negotiated Sales:

Confirmed:      15,710

Week Ago:           538

Year Ago:          9,879

Formula Net - Dressed Steers & Heifers:

Head count priced today:   25,700

Weighted avg. weight:        868.00

Weighted avg. net price:     231.19

 

Cattle Slaughter under Federal Inspection

Tuesday (est)                      125,000

Week ago (est)                    124,000

Year ago (act)                       121,000

Week to Date                       250,000

Same Period Last Week     246,000

Same Period Last Year       241,000

Monday

Steers & Heifers:  97,000

Cows & Bulls:        28,000

 

Boxed Beef:

Cutout Values:

Choice: 252.44… -2.27

Select:  244.94… -5.28

Choice/Select Spread: 7.50

Total Load Count: 194

 

Cutter Cow Cutout:

231.37… +2.25

 

CME Feeder Cattle Index for March 7th:

154.11… -1.25 / -0.81%

1 Year Change: +14.99%

52 Week Range: 130.15 to 165.35

 

Futures Settlements…

Live Cattle:

April: 139.05… +1.15

June: 135.45… +1.53

August: 136.47… +1.17

 

Feeder Cattle:

March: 154.02… -0.58

April: 160.32… +0.65

May: 166.30… +1.40

 

April Hogs: 102.92… +2.65

April Crude Oil: 123.70… +4.30

 

May Corn: 7.5300… +0.0225

May Wheat: 12.8650… -0.0750

 

Grain Cash Bids:

Omaha Corn: 7.21… -0.01

Kansas City Wheat: 11.03… -0.56

 

Financial Markets:

DJIA: 32,631.72… -187.04

S & P 500: 4,170.24… -30.72

NASDAQ: 12,795.47… -35.49

U.S. Dollar Index: 99.09… -0.20