Texas Daily Ag Market News Summary

Fed Cattle:

As of 3:00 PM Wednesday in the Texas Panhandle and Kansas, negotiated cash trading has been slow with light demand. In the Texas Panhandle a few early live FOB purchases traded steady at 183.00, when compared to last week. In Kansas a few early live FOB purchases traded steady to 1.00 higher at 183.00, when compared to the prior week. In Nebraska negotiated cash trading has been at a standstill. For the previous week in Nebraska live FOB purchases traded at 183.00 and dressed delivered purchases traded at 292.00. In the Western Cornbelt negotiated cash trading has been mostly inactive on light demand. Not enough purchases for a market trend. Last week in the Western Cornbelt live FOB purchases traded from 182.00-184.00 and dressed delivered purchases traded from 290.00-292.00.

Negotiated Sales:

Confirmed:          6,074

Week Ago:             170

Year Ago:               388

Formula Net - Dressed Steers & Heifers:

Head count priced today:   17,300

Weighted avg. weight:        865.00

Weighted avg. net price:    288.99

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Cattle Slaughter under Federal Inspection

Wednesday       125,000

Week Ago           120,000

Year Ago             125.161

Week to Date     372,000

Last Week          349,000

Last Year            375,091

Tuesday

Steers & Heifers:  98,000

Cows & Bulls:        27,000

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Boxed Beef:

Cutout Values:

Choice: 303.03… +1.29

Select:  292.94… +2.54

Choice/Select Spread: 10.09

Total Load Count: 149

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Cutter Cow Cutout:

240.96… -1.50

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CME Feeder Cattle Index for February 27th:

246.46… -0.18/ -0.07%

1 Year Change: +34.96%

52 Week Range: 182.62 to 254.09

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Futures Settlements:

Live Cattle:

February: 184.65… -0.95

April: 186.12… -1.60

June: 182.17… -1.40

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Feeder Cattle:

March: 249.60… -3.40

April: 255.10… -3.85

May: 257.97… -3.35

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April Lean Hogs: 86.00… +0.10

April Crude Oil: 78.54… -0.33

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May Corn: 4.2850… +0.0500

May Wheat: 5.7475… -0.0950

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Grain Cash Bids:

Omaha Corn: 4.25… +0.05

Kansas City Wheat: 5.15… -0.06

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Financial Markets:

DJIA: 38,949.29… -20.83

S & P 500: 5,069.82… -8.59

NASDAQ: 15,947.74… -87.56

U.S. Dollar Index: 103.95… +0.12