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Feb
29
2024

Texas Daily Ag Market News Summary

Posted 142 days ago by Administrator Account

Daily Market Summary for February 29th

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 negotiated cash trade has been slow on light demand. The most recent market in Southern Plains was Wednesday with live FOB purchases traded at 183.00. In Nebraska negotiated cash trade was slow on moderate demand. Compared to Wednesday live FOB purchases traded steady at 183.00. Compared to last week dressed delivered purchases traded 2.00 lower at 290.00. In the Western Cornbelt negotiated cash trade and demand was moderate. Compared to last week live FOB purchases traded steady to 1.00 higher from 183.00-184.00. Compared to last week dressed delivered purchases traded steady to 2.00 lower from 290.00.

Negotiated Sales:

Confirmed:         23,136

Week Ago:               835

Year Ago:             6,694

Formula Net - Dressed Steers & Heifers:

Head count priced today:  41,000

Weighted avg. weight:        874.00

Weighted avg. net price:     293.21

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Cattle Slaughter under Federal Inspection

Thursday           123,000

Week Ago           123,000

Year Ago             124,375

Week to Date     495,000

Last Week          472,000

Last Year            499,466

Wednesday

Steers & Heifers:  99,000

Cows & Bulls:        26,000

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Boxed Beef:

Cutout Values:

Choice: 304.20… +1.17

Select:  294.08… +1.14

Choice/Select Spread: 10.02

Total Load Count: 130

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Cutter Cow Cutout:

242.79… +1.83

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CME Feeder Cattle Index for February 28th:

246.26… -0.54/ -0.22%

1 Year Change: +35.14%

52 Week Range: 183.04 to 254.09

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Futures Settlements:

Live Cattle:

February: 184.00… -0.65

April: 185.35… -0.77

June: 181.22… -0.95

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Feeder Cattle:

March: 249.00… -0.60

April: 253.72… -1.38

May: 256.12… -1.85

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April Lean Hogs: 86.62… +0.62

April Crude Oil: 78.26… -0.28

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May Corn: 4.2950… +0.0100

May Wheat: 5.7625… +0.0150

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Grain Cash Bids:

Omaha Corn: 4.31… +0.06

Kansas City Wheat: 5.19… +0.04

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Financial Markets:

DJIA: 38,974.53… +25.24

S & P 500: 5,095.78… +25.96

NASDAQ: 16,091.92… +144.18

U.S. Dollar Index: 104.10… +0.12






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