Texas Daily Ag Market News Summary

Posted 6 years 17 days ago by Administrator Account

Daily Market Summary for Wednesday, April 4th:

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TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle: Wednesday negotiated cash trade was light on light to moderate demand in Nebraska. Compared to Tuesday in Nebraska, live purchases traded mostly 1.00-3.00 lower with the bulk at114.00. Dressed purchases ranged from 184.00-188.00. Trade and demand was light in the Southern Plains and Western Cornbelt, however not enough purchases for an adequate market test. On Tuesday in Kansas, live purchases traded from 117.00-118.00, bulk at 118.00. In the Texas Panhandle on Tuesday, live purchases traded from 117.00-118.00. In the Western Cornbelt on Tuesday, early dressed purchases traded from 188.00-192.00, bulk at 188.00. Last week, live purchases traded mostly from 120.00-122.00. In Colorado, trade was inactive on light demand on Wednesday with the latest established market last week at 120.50.

Negotiated Sales: Confirmed: 12,400 Week Ago: 32,404 Year Ago: 2,484

Formula Purchases: Net - Dressed
Head count priced today: 17,000
Weighted avg weight: 850.00
Weighted avg net price: 198.89

Alberta Beef Producers Daily Report: Alberta direct cattle sales Tuesday saw no new trade to report but there is a chance scattered trade could develop by this afternoon. Technical price levels have eased since Monday. Softer US cash prices yesterday and triple digit losses on the futures market this morning does not bode well for cash prices here locally. That said fed prices are expected to be lower this week.

Livestock Slaughter under Federal Inspection:
                             Cattle      Calves   Hogs        Sheep
Wednesday (est     118,000    2,000     466,000     6,000
Week ago (est)       118,000    2,000     462,000     7,000
Year ago (act)        115,000    2,000     446,000      8,000
Week to date (est) 339,000    6,000   1,247,000    22,000
Last Week (est)     354,000    6,000   1,381,000    25,000
Last Year (act)       338,000    6,000   1,339,000    25,000

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

Cutout Values...            Choice        Select
Current Cutout Values:    218.19         206.18
Change from prior day:       -1.49            -3.15
Choice/Select spread:        12.01

Futures Summary:

April Live Cattle Futures: 113.02...+1.05

June Live Cattle Futures: 102.32...+2.70

August Live Cattle Futures: 102.60...+2.70

April Feeder Cattle Futures: 134.50...+3.98

May Feeder Cattle Futures: 135.12...+4.15

Aug Feeder Cattle Futures: 140.22...+3.05

CME Feeder Cattle Index: 134.50...-0.44

May Lean Hog Futures: 62.87...+1.67

National Grain Market Summary: N/A

Kansas City Corn: N/A

Kansas City Soybeans: N/A