Feb 28 2023

Texas Daily Ag Market News Summary Posted 1 years 273 days ago by Administrator Account

Daily Market Summary for February 28th

The Daily Market News Report brought to you by The Cattle Range. Please visit their website for more information!

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Fed Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been limited on very light demand. In the Western Cornbelt, a few live purchases traded at 165.00. However, not enough purchases for a full market trend. For the previous week in these regions live purchases traded mostly at 164.00. Last week in Nebraska dressed purchases traded at 262.00. For the prior week in the Western Cornbelt dressed purchases traded from 260.00-262.00.

Negotiated Sales:

Confirmed:          1,591

Week Ago:           3,941

Year Ago:                538

Formula Net - Dressed Steers & Heifers:

Head count priced today:   33,900

Weighted avg. weight:         873.00

Weighted avg. net price:     260.45

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Cattle Slaughter under Federal Inspection

Tuesday             126,000

Week Ago          127,000

Year Ago            127,000

Week to Date    250,000

Last Week          231,000

Last Year            252,000 

Monday

Steers & Heifers: 98,000

Cows & Bulls:       28,000

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Boxed Beef:

Cutout Values:

Choice: 288.95… +0.61

Select:  279.25… Unchanged

Choice/Select Spread: 9.70

Total Load Count: 97

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Cutter Cow Cutout:

207.72… +1.77

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CME Feeder Cattle Index for February 27th:

182.62… +0.38 / +0.21%

1 Year Change: +14.37%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 167.50… +2.50

April: 165.47… +0.50

June: 161.35…+0.48

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Feeder Cattle:

March: 189.80…+0.63

April: 195.07…+0.85

May: 199.62…+0.90

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April Lean Hogs: 85.17…+0.45

March Crude Oil: 77.05… +1.37

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March Corn: 6.2950… -0.1325

March Wheat: 6.9150… -0.0450

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Grain Cash Bids:

Omaha Corn: 6.64… -0.14

Kansas City Wheat: 7.83… -0.04

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Financial Markets:

DJIA: 32,654.98… -234.31

S & P 500: 3,969.69… -12.66

NASDAQ: 11,455.54… -11.44

U.S. Dollar Index: 104.92… +0.25