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Mar
07
2024

Texas Daily Ag Market News Summary

Posted 135 days ago by Administrator Account

Daily Market Summary for March 7th

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 Texas Panhandle, negotiated cash trade has been at a standstill. In Kansas negotiated cash trade was slow on light to moderate demand. There have been a few early live FOB purchases at 186.00, however not enough purchases for a market trend. Last week in the Southern Plains live FOB purchases traded at 183.00. In Nebraska negotiated cash trade was slow on light to moderate demand. Compared to last week live FOB purchases traded 1.50-2.00 higher from 185.00-186.00. Last week in Nebraska dressed delivered purchases traded at 290.00. In the Western Cornbelt negotiated cash trade and demand has been moderate. Compared to last week in the Western Cornbelt live FOB purchases traded 2.00 higher from 185.00 -186.00. Last week in the Western Cornbelt dressed delivered purchases traded at 290.00.

Negotiated Sales:

Confirmed:          19,080

Week Ago:           23,136

Year Ago:               4,118

Formula Net - Dressed Steers & Heifers:

Head count priced today:   42,100

Weighted avg. weight:         873.00

Weighted avg. net price:     294.49

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Cattle Slaughter under Federal Inspection

Thursday           122,000

Week Ago           123,000

Year Ago             125,574

Week to Date     484,000

Last Week          495,000

Last Year            501,188

Wednesday

Steers & Heifers:  98,000

Cows & Bulls:        26,000

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Boxed Beef:

Cutout Values:

Choice: 306.61… +1.70

Select:  296.26… +1.17

Choice/Select Spread: 10.35

Total Load Count: 97

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Cutter Cow Cutout:

244.94… -0.23

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CME Feeder Cattle Index for March 6th:

248.07… +1.17% / +0.47%

1 Year Change: +31.92%

52 Week Range: 187.69 to 254.09

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Futures Settlements:

Live Cattle:

April: 188.72… +1.47

June: 184.60… +1.33

August: 183.50… +1.10

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Feeder Cattle:

March: 251.02… Unchanged

April: 256.30… +0.43

May: 258.45… +0.68

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April Lean Hogs: 84.52… -0.48

April Crude Oil: 78.93… -0.20

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May Corn: 4.3800… +0.0925

May Wheat: 5.2850… -0.0250

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Grain Cash Bids:

Omaha Corn: 4.44… +0.09

Kansas City Wheat: 5.06… +0.15

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Financial Markets:

DJIA: 38,791.21… +125.84

S & P 500: 5,157.36… +52.13

NASDAQ: 16,273.38… +241.84

U.S. Dollar Index: 102.83… -0.55






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