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Feb
02
2023
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Posted 51 days ago ago by Administrator Account
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Daily Market Summary for February 2nd
The Daily Market News Report brought to you by The Cattle Range. Please visit their website for more information!
Slaughter Cattle:
As of 3:00 PM Thursday in the Western Cornbelt, negotiated cash trade has been limited on light demand. A few live purchases traded at 154.00. In the Southern Plains negotiated cash trade has been at a standstill. In Nebraska negotiated cash trading has been mostly inactive with very light demand. However, not enough purchases in any region for a full market trend. Last week in the Southern Plains live purchases traded at 156.00. In Nebraska last week, live and dressed purchases traded from 153.00-156.00 and at 248.00, respectively. Last week in the Western Cornbelt live and dressed purchases traded from 152.00-157.00 and at 248.00, respectively.
Negotiated Sales:
Confirmed: 3,271
Week Ago: 18,987
Year Ago: 19,239
Formula Net - Dressed Steers & Heifers:
Head count priced today: 33,600
Weighted avg. weight: 858.00
Weighted avg. net price: 254.61
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Cattle Slaughter under Federal Inspection
Thursday (est) 125,000
Week ago (est) 126,000
Year ago (act) 114,000
Week to Date 500,000
Last Week 504,000
Last Year 476,000
Wednesday:
Steers & Heifers: 98,000
Cows & Bulls: 29,000
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Boxed Beef:
Cutout Values:
Choice: 265.10… +0.03
Select: 253.66… +0.88
Choice/Select Spread: 11.44
Total Load Count: 150
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Cutter Cow Cutout:
199.09… +2.09
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CME Feeder Cattle Index for February 1st:
180.90… +0.53 / +0.29%
1 Year Change: +13.59%
52 Week Range: 152.31 to 183.59
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Futures Settlements…
Live Cattle:
February: 159.75… +1.33
April: 163.82… +1.60
June: 160.00… +1.30
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Feeder Cattle:
March: 185.92… +2.67
April: 190.07… +2.12
May: 194.25… +1.85
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April Lean Hogs: 86.00… +1.70
March Crude Oil: 75.88… -0.53
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March Corn: 6.7525… -0.0575
March Wheat: 7.7200… +0.1225
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Grain Cash Bids:
Omaha Corn: 7.10… -0.06
Kansas City Wheat: 8.41… +0.08
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Financial Markets:
DJIA: 34,053.74… -40.60
S & P 500: 4,179.73…+60.26
NASDAQ: 12,200.82… +384.50
U.S. Dollar Index: 101.72… +0.50