Feb 08 2023

Texas Daily Ag Market News Summary Posted 1 years 143 days ago by Administrator Account

Daily Market Summary for February 8th

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 Wednesday in Nebraska, negotiated cash trading has been limited on light demand. A few live purchases traded at 157.00. In Texas Panhandle and Western Cornbelt negotiated cash trade has been mostly inactive on very light demand. In Kansas negotiated cash trade has been at a standstill. Not enough purchases in any of these regions for a market trend. The latest established market was last week in these regions. In the Texas Panhandle live purchases traded at 158.00. In Kansas live purchases traded from 158.00-159.00. In Nebraska live and dressed purchases traded from 155.00-159.00 and at 250.00, respectively. In the Western Cornbelt live and dressed purchases traded from 154.00-160.00 and at 250.00, respectively.

Negotiated Sales:

Confirmed:         3,336

Week Ago:             275

Year Ago:          15,271

Formula Net - Dressed Steers & Heifers:

Head count priced today:   13,400

Weighted avg. weight:         863.00

Weighted avg. net price:     252.19

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Cattle Slaughter under Federal Inspection

Wednesday (est) 124,000

Week ago (est)    127,000

Year ago (act)      124,000

Week to Date      370,000

Last Week            375,000

Last Year              373,000

Tuesday:

Steers & Heifers:  98,000

Cows & Bulls:        28,000

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Boxed Beef:

Cutout Values:

Choice: 267.20… +0.48

Select:  253.16… -4.17

Choice/Select Spread: 14.04

Total Load Count: 110

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Cutter Cow Cutout:

200.01… -0.43

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CME Feeder Cattle Index for February 7th:

182.29… +0.06 / +0.03%

1 Year Change: +12.50%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 160.80… +0.23

April: 163.70… +0.10

June: 159.77… -0.03

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Feeder Cattle:

March: 186.45… -0.75

April: 190.72… -0.63

May: 194.42… -0.38

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April Lean Hogs: 84.07… +0.80

March Crude Oil: 78.47… +1.33

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March Corn: 6.7850… +0.0450

March Wheat: 7.6475… +0.1500

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Grain Cash Bids:

Omaha Corn: 7.14… +0.04

Kansas City Wheat: 8.66… +0.15

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Financial Markets:

DJIA: 33,949.01… -207.84

S & P 500: 4,117.86… -46.18

NASDAQ: 11,910.52… -203.27

U.S. Dollar Index: 103.49… +0.06