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Feb
08
2024

Texas Daily Ag Market News Summary

Posted 163 days ago by Administrator Account

Daily Market Summary for February 8th

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


Fed Cattle:

As of 3:00 PM Thursday in the Southern Plains and Nebraska, negotiated cash trade was at a standstill. In the Western Cornbelt negotiated cash trade has been slow on light demand. There have been a few early live FOB purchases at 179.00, however not enough purchases for market trend. Last week in the Texas Panhandle live FOB purchases traded at 178.00. Last week in Kansas live FOB purchases traded from 178.00-179.00. Last week in Nebraska live FOB purchases from 176.00-178.75 and dressed delivered purchases traded at 280.00. Last week in the Western Cornbelt live FOB purchases from 177.00-179.00, with dressed delivered purchases at 280.00.

Negotiated Sales:

Confirmed:       1,266

Week Ago:      24,204

Year Ago:          7,740

Formula Net - Dressed Steers & Heifers:

Head count priced today:   31,100

Weighted avg. weight:         866.00

Weighted avg. net price:     285.16

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Cattle Slaughter under Federal Inspection

Thursday           125,000

Week Ago           126,000

Year Ago             123,700

Week to Date     501,000

Last Week          505,000

Last Year            491,000 

Wednesday

Steers & Heifers:  99,000

Cows & Bulls:        27,000

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Boxed Beef:

Cutout Values:

Choice: 295.01… +0.03

Select:  284.12… -1.30

Choice/Select Spread: 10.89

Total Load Count: 133

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Cutter Cow Cutout:

235.57… +2.70

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CME Feeder Cattle Index for February 7th:

242.11… +1.49 / +0.62%

1 Year Change: +32.82%

52 Week Range: 182.21 to 254.09

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Futures Settlements…

Live Cattle:

February: 183.77… +1.55

April: 186.57… +1.77

June: 183.72… +1.52

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Feeder Cattle:

March: 246.85… +1.30

April: 251.92… +0.72

May: 256.30… +0.40

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April Lean Hogs: 80.35… -0.75

March Crude Oil: 76.22… +2.36

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March Corn: 4.3325… -0.0100

March Wheat: 5.8850… -0.1350

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Grain Cash Bids:

Omaha Corn: 4.48… -0.01

Kansas City Wheat: 5.39… -0.16

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Financial Markets:

DJIA: 38,726.26… +48.11

S & P 500: 4,997.96… +2.87

NASDAQ: 15,793.71… +37.56

U.S. Dollar Index: 104.13… +0.07






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