Texas Daily Ag Market News Summary

Fed Cattle:  As of 3:00 PM, negotiated cash trade was light to moderate on moderate demand in Nebraska and the Western Cornbelt. In Nebraska, early live and dressed purchases have traded from 175.00-176.00 and 280.00 with early purchases in the Western Cornbelt ranging from 176.00-177.00 and 280.00, however not purchases in either region for an adequate market test. Trade was mostly inactive on light to moderate demand in the Southern Plains. The latest established market was in the Southern Plains with live purchases on Wednesday at 170.00. Last week in Nebraska live and dressed purchases traded from 176.00-178.00 and at 281.00, respectively. In the Western Cornbelt last week live and dressed purchases traded from 172.00-178.00 and from 280.00-285.00, respectively.

Negotiated Sales:

Confirmed:       21,091

Week Ago:          4,861

Year Ago:            5,913

Formula Net - Dressed Steers & Heifers:

Head count priced today:   41,800

Weighted avg. weight:         872.00

Weighted avg. net price:     281.04

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Cattle Slaughter under Federal Inspection

Thursday           126,000

Week Ago           120,000

Year Ago             124,000

Week to Date     506,000

Last Week          496,000

Last Year            489,000 

Wednesday

Steers & Heifers:  97,000

Cows & Bulls:        29,000

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Boxed Beef:

Cutout Values:

Choice: 305.72… -1.15

Select:  284.58… +0.04

Choice/Select Spread: 21.14

Total Load Count: 128

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Cutter Cow Cutout:

224.42… -0.01

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CME Feeder Cattle Index for May 10th:

199.40… -0.05 / -0.03%

1 Year Change: +27.53%

52 Week Range: 152.72 to 206.37

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Futures Settlements…

Live Cattle:

June: 162.95… -0.05

August: 160.80… -0.37

October: 164.55… -0.45

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Feeder Cattle:

May: 204.12… -1.25

August: 226.07… +0.92

September: 229.30… +0.93

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June Lean Hogs: 83.87… -0.30

June Crude Oil: 70.87… -1.69

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July Corn: 5.8225… -0.1175

July Wheat: 6.2725… -0.1400

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Grain Cash Bids:

Omaha Corn: 6.42… -0.12

Kansas City Wheat: 8.12… -0.13

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Financial Markets:

DJIA: 33,310.04… -220.96

S & P 500: 4,130.58… -7.01

NASDAQ: 12,328.51… +22.07

U.S. Dollar Index: 102.07… +0.59