Feb 03 2023

Texas Daily Ag Market News Summary Posted 1 years 72 days ago by Administrator Account

Daily Market Summary for February 3rd

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 Friday, negotiated cash trading has been slow on light demand in Nebraska and Western Cornbelt. In both regions a few dressed purchases have traded at 250.00. In the Western Cornbelt a few live purchases have traded at 160.00. In Kansas negotiated cash trade has been mostly inactive on very light demand. However, not enough purchases in these regions for a full market trend. In the Texas Panhandle negotiated cash trade has been at a standstill. 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:       12,243

Week Ago:          5,599

Year Ago:            5,250

Formula Net - Dressed Steers & Heifers:

Head count priced today:   31,500

Weighted avg. weight:         860.00

Weighted avg. net price:     252.74

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Cattle Slaughter under Federal Inspection

Friday (est)        122,000

Week ago (est)  124,000

Year ago (act)    114,000

Week to Date     622,000

Last Week          628,000

Last Year            590,000

Thursday:

Steers & Heifers: 97,000

Cows & Bulls:       28,000

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Boxed Beef:

Cutout Values:

Choice: 264.74… -0.36

Select:  251.61… -2.05

Choice/Select Spread: 13.13

Total Load Count: 76

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Cutter Cow Cutout:

198.31… -0.78

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CME Feeder Cattle Index for February 2nd:

181.45… +0.55 / +0.30%

1 Year Change: +13.29%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 160.27… +0.52

April: 164.12… +0.30

June: 160.27… +0.27

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Feeder Cattle:

March: 186.10… +0.18

April: 190.62… +0.55

May: 194.77… +0.52

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April Lean Hogs: 86.47… +0.47

March Crude Oil: 73.39… -2.49

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March Corn: 6.7750… +0.0225

March Wheat: 7.5675… -0.0425

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Grain Cash Bids:

Omaha Corn: 7.12… +0.02

Kansas City Wheat: 8.43…+0.02

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Financial Markets:

DJIA: 33,925.06… -128.68

S & P 500: 4,136.42… -43.31

NASDAQ: 12,006.95… -193.87

U.S. Dollar Index: 103.00… -1.25