Texas Daily Ag Market News Summary

Posted 3 years 21 days ago ago by Administrator Account

Daily Market Summary for Wednesday, March 28th:

The Daily Market News Report bought to you by The Cattle Range. Please visit http://cattlerange.com/ex-static.htm for more information!

TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle:  Wednesday in Kansas trading and demand has been moderate. Compared to last week live cash trades are 5.00 lower at 121.00. In the Texas Panhandle and Nebraska trading has been limited on light to moderate demand. In the Texas Panhandle a few live trades have moved at 121.00. In Nebraska a few live and dressed trades have moved at 120.50 and 190.00, respectively. In Colorado and the Western Cornbelt trading has been very limited on very light demand. Not enough cash trades in these regions for a full market trend. Last week in the Texas Panhandle live cash trades were at 126.00. For the prior week in Nebraska live cash trades were mostly from 125.00-126.00 and dressed trades were from 200.00-203.00. For the previous week in Colorado live cash trades were mostly at 126.00. Last week in the Western Cornbelt live cash trades were mostly 
from 126.00-128.00 and dressed trades mostly from 200.00-204.00.

Negotiated Sales: Confirmed: 32,294   Week Ago: 33,620   Year Ago: 2,484

Formula Purchases: Net - Dressed 
Head count priced today: 15,600 
Weighted avg weight:       851.00 
Weighted avg net price:   201.17

Alberta Beef Producers Daily Report: Alberta direct cattle sales Tuesday were typically quiet with no trade to report. Dressed bids were reported at $268.00 Delivered but did not attract feedlot attention. Trade inquiries are anticipated for this afternoon and light trade could develop this afternoon and on Thursday.

Livestock Slaughter under Federal Inspection
                             Cattle      Calves   Hogs         Sheep 
Wednesday   (est   118,000    2,000      462,000     7,000 
Week ago (est)      118,000    2,000      452,000     7,000 
Year ago (act)        116,000    2,000      448,000     7,000 
Week to date (est) 354,000    6,000   1,381,000    25,000 
Last Week (est)     354,000    6,000   1,378,000    25,000 
Last Year (act)       349,000    5,000   1,330,000    27,000

Boxed Beef: Boxed beef cutout values lower on light to moderate demand and moderate offerings. Select and Choice chuck and round cuts steady to weak while loin cuts weak to lower. Choice rib cuts steady while Select lower. Beef trimmings sharply lower on light demand and light to moderate offerings.

Cutout Values...            Choice        Select 
Current Cutout Values:    221.62         211.63 
Change from prior day:      -0.78            -2.61 
Choice/Select spread:         9.99

Futures Summary

April Live Cattle Futures: 116.00...+0.58

June Live Cattle Futures: 105.57...+0.32

August Live Cattle Futures: 104.45...+0.48

March Feeder Cattle Futures: 135.97...+0.55

April Feeder Cattle Futures: 137.82...+2.47

May Feeder Cattle Futures: 138.50...+2.15

CME Feeder Cattle Index: 136.23...+0.01

April Lean Hog Futures: 56.92...-0.83

National Grain Market Summary: Compared to yesterday, cash bids for corn, wheat, and soybeans were mixed, sorghum was lower.  Much of today’s trading may have been focused on getting final positions set ahead of USDA’s Prospective Plantings and quarterly stock reports set to be released tomorrow.  Ethanol manufacturing for the week ending March 23rd averaged 1.039 million barrels per day, approximately 10,000 barrels per day fewer than the week prior.

Kansas City Corn: 3.59...+0.01

Kansas City Soybeans: 9.75...-0.02

Kansas City Wheat: 4.51...-0.03

May Corn Futures: 3.7350...-0.0050

May Soybean Futures: 10.1800...-0.0150

May Wheat Futures: 4.4550...-0.0350

Nearby Crude Oil Futures Contract: 64.38...-0.87

Dow Jones Industrial Average: 23,848.48...-9.23

NASDAQ: 6,949.23...-59.58

U.S. Dollar Index: 90.14...+0.81