Jan 24 2023

Texas Daily Ag Market News Summary Posted 1 years 307 days ago by Administrator Account

Daily Market Summary for January 24th

The Daily Market News Report brought 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, 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 and Nebraska live purchases traded at 155.00 and dressed purchases, in Nebraska, traded at 248.00. For the prior week in the Western Cornbelt live and dressed purchases traded from 156.00-158.00 and from 248.00-250.00, respectively.

Negotiated Sales:

Confirmed:       532

Week Ago:        140

Year Ago:     14,795

Formula Net - Dressed Steers & Heifers:

Head count priced today:   27,800

Weighted avg. weight:         869.00

Weighted avg. net price:     253.41

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Cattle Slaughter under Federal Inspection

Tuesday (est)                       127,000

Week ago (est)                     128,000

Year ago (act)                       121,000

Week to Date                       251,000

Same Period Last Week     253,000

Same Period Last Year       239,000

Monday:

Steers & Heifers:                  97,000

Cows & Bulls:                        27,000

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Boxed Beef:

Cutout Values:

Choice: 269.64… -1.80

Select:  252.39… -2.10

Choice/Select Spread: 17.25

Total Load Count: 138

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Cutter Cow Cutout:

196.39… +1.74

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CME Feeder Cattle Index for January 23rd:

177.53… -0.16 / -0.09%

1 Year Change: +11.12%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 157.85… +0.38

April: 161.30… +0.75

June: 157.85… +0.55

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Feeder Cattle:

January: 178.95… -0.22

March: 183.60… +0.33

April: 187.92… Unchanged

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February Hogs: 77.10… -0.47

March Crude Oil: 80.13… -1.49

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March Corn: 6.7700… +0.1075

March Wheat: 7.3450… +0.1450

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Grain Cash Bids:

Omaha Corn: 7.12… +0.16

Kansas City Wheat: 7.84… +0.11

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Financial Markets:

DJIA: 33,733.50… +104.66

S & P 500: 4016.82… -2.83

NASDAQ: 11,334.27… -30.14

U.S. Dollar Index: 101.96… -0.18