Texas Daily Ag Market News Summary

Posted 3 years 13 days ago ago by Administrator Account

Daily Market Summary for Thursday, April 5th:

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TCR's Weekly Current & Projected Feedyard Closeout

Slaughter Cattle:  Thursday trade was mostly inactive on light demand in most feeding regions; however, a few live purchases in Nebraska were reported at 114.50. The latest established market was on Wednesday with live purchases in Nebraska mostly at 114.00. Dressed purchases ranged from 184.00-188.00. 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: 3,439   Week Ago: 15,751   Year Ago: 3,658

Formula Purchases: Net - Dressed 
Head count priced today: 21,000 
Weighted avg weight:       890.00 
Weighted avg net price:   199.12

Alberta Beef Producers Daily Report: Alberta direct cattle sales Wednesday saw light trade develop with dressed sales marked at 260.00 delivered. Sales are 6.00-8.00 lower than the previous week. No live bids have been reported however using a 60% dressing percentage dressed bids are working back top the mid 150's on a live basis.

Livestock Slaughter under Federal Inspection
                              Cattle      Calves   Hogs        Sheep 
Thursday   (est       118,000    2,000     465,000      8,000 
Week ago (est)      118,000     2,000     464,000      8,000 
Year ago (act)        112,000    1,000     447,000      9,000 
Week to date (est) 457,000    8,000   1,712,000    30,000 
Last Week (est)     472,000    8,000   1,845,000    33,000 
Last Year (act)       450,000    7,000   1,786,000    34,000

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

Cutout Values...            Choice        Select 
Current Cutout Values:    215.09         206.31 
Change from prior day:       -3.10          +0.13 
Choice/Select spread:         8.78

Futures Summary

April Live Cattle Futures: 114.30...+1.28

June Live Cattle Futures: 105.05...+2.73

August Live Cattle Futures: 104.87...+2.27

April Feeder Cattle Futures: 137.47...+2.97

May Feeder Cattle Futures: 138.05...+2.93

Aug Feeder Cattle Futures: 142.67...+2.45

CME Feeder Cattle Index: 135.31...+0.81

May Lean Hog Futures: 65.85...+2.98

National Grain Market Summary:  Compared to yesterday, cash bids for corn, wheat, and soybeans were higher.  Corn and soybean markets were able to erase much of yesterday’s loss caused by China’s tariff announcements. Export sales and shipments totaled 35.4 million and 49.8 million bushels corn, 41.6 million and 21.3 million bushels of soybeans, and 4 million and 15.7 million bushels of wheat.  All export sales and shipments may be seen as neutral to bearish.

Kansas City Corn: 3.76...+0.09

Kansas City Soybeans: 9.97...+0.16

Kansas City Wheat: 4.89...+0.13

May Corn Futures: 3.8950...+0.0850

May Soybean Futures: 10.3125...+0.1600

May Wheat Futures: 4.6475...+0.0900

Nearby Crude Oil Futures Contract: 63.54...+0.17

Dow Jones Industrial Average: 24,503.77...+239.47

NASDAQ: 7,076.55...+34.44

U.S. Dollar Index: 90.47...+0.35