Feb 06 2019

Texas Daily Ag Market News Summary Posted 5 years 78 days ago by Administrator Account

Daily Market Summary for February 6th  

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:  

As of 3:00 PM Wednesday, trade was mostly inactive on light demand in all feeding regions. In Nebraska a limited amount of live purchases traded at 124.00, however not enough for an adequate market test. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska last week ranged from 198.00-199.00, bulk at 198.00. In the Western Cornbelt, last week live purchases traded from 123.00-126.00 with dressed purchases from 197.00-200.00.

 

Negotiated Sales:

Confirmed: 1,554    Week Ago: 68    Year Ago: 369

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 13,900

Weighted avg weight:       878.00

Weighted avg net price:    198.90

 

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 improved from the beginning of the week. Packers were indicating cattle that they bought last week would not be lifted for one month. If lift dates stay four weeks out there will be additional pressure to market cattle to keep weights under control.

 

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves    Hogs         Sheep

Wednesday (est       117,000    2,000     479,000      7,000

Week ago (est)         112,000    2,000     253,000      6,000

Year ago (act)           117,000    2,000     466,000      7,000

Week to date (est)  353,000    6,000   1,429,000    23,000

Last Week (est)        349,000    6,000   1,189,000    20,000

Last Year (act)          346,000    6,000   1,389,000    24,000

Previous Day Estimated -- Steers & Heifers -- Cows & Bulls

                            Tuesday        93,000                   25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     217.57     213.37

Change from prior day:       +0.55        -0.73

Choice/Select spread:            5.20

Total Load Count (Cuts, Trimmings, Grinds): 112

 

Cutter Cow Cutout: 163.69… +2.25

 

CME Feeder Cattle Index: 141.53… -0.01

 

Futures

Live Cattle:

February: 126.40… -0.30

April: 127.15… -0.47

June: 117.22… -0.18

Feeder Cattle:

March: 143.17… -0.65

April: 144.85… -0.60

May: 145.52… -0.53

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February Hogs: 55.92… -0.50

March Crude Oil: 54.01… +0.35

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March Corn: 3.8000… -0.0075

March Soybeans: 9.2175… +0.0150

March Wheat: 5.2600… -0.0125

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Grain Cash Bids:

Kansas City Corn: 3.71… -0.01

Kansas City Soybeans: 8.69… +0.02

Kansas City Wheat: 5.01… -0.01

 

Financial Markets:

Dow Jones Industrial Average: 25,390.10… -21.42

S & P 500: 2,731.62… -6.08

NASDAQ: 7,375.28… -26.80

U.S. Dollar Index: 96.37… +0.30

Cotton (www.ams.usda.gov): 

March Cotton Futures: 73.66… +0.26

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.94… +0.01