Jan 12 2024

Texas Daily Ag Market News Summary Posted 113 days ago by Administrator Account

Daily Market Summary for January 12th

The Daily Market News Report is 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 Friday in the Southern Plains, negotiated cash trading has been limited with light demand. A few live FOB purchases have traded at 172.00, however, not enough for a full market trend. Last week in the Southern Plains live FOB purchases traded from 172.00-173.00. In Nebraska negotiated cash trade has been slow with light demand. Thus far for the week live FOB purchases traded steady to 2.00 lower at 173.00 and dressed delivered purchases traded 0.50-2.00 lower from 272.00-275.00. In the Western Cornbelt negotiated cash trade has been mostly inactive with light demand. Not enough purchases for a market trend. Thursday was the fully reported market with live FOB purchases at 175.00 and dressed delivered purchases 275.00, a light test of dressed purchases was noted.

Negotiated Sales:

Confirmed:       6,545

Week Ago:        9,959

Year Ago:         13,966

Formula Net - Dressed Steers & Heifers:

Head count priced today:  32,700

Weighted avg. weight:        874.00

Weighted avg. net price:    277.67

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Cattle Slaughter under Federal Inspection

Friday                 120,000

Week Ago           126,000

Year Ago             122,000

Week to Date     424,000

Last Week           380,000

Last Year             502,000 

Thursday

Steers & Heifers:   89,000

Cows & Bulls:         27,000

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Boxed Beef:

Cutout Values:

Choice: 289.26… +3.37

Select:  271.85… +1.91

Choice/Select Spread: 17.41

Total Load Count: 126

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Cutter Cow Cutout:

211.30… +0.29

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CME Feeder Cattle Index for January 11th:

228.00… +0.25 / +0.11%

1 Year Change: +25.03%

52 Week Range: 177.03 to 254.09

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Futures Settlements…

Live Cattle:

February: 171.37… -0.43

April: 174.17… -0.40

June: 171.62… -0.35

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Feeder Cattle:

January: 226.57… +0.30

March: 227.70… +0.30

April: 233.00… +0.28

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February Lean Hogs: 71.90… -0.70

February Crude Oil: 72.68… +0.66

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March Corn: 4.4700… -0.1075

March Wheat: 5.9600… -0.0775

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Grain Cash Bids:

Omaha Corn: 4.42… -0.12

Kansas City Wheat: 5.68… -0.03

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Financial Markets:

DJIA: 37,593.05… -118.04

S & P 500: 4,783.85… +3.57

NASDAQ: 14,972.76… +2.58

U.S. Dollar Index: 102.43… +0.14