Mar 26 2019

Texas Daily Ag Market News Summary Posted 5 years 32 days ago by Administrator Account

Daily Market Summary for March 26th  

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 Tuesday trading in the Texas Panhandle and Northern Plains has been at a standstill. In Kansas trading has been limited on very light demand. A few live cash trades moved from 122.00-126.00. In the Western Cornbelt trading has been inactive with very light demand. Not enough trades in these feeding regions for a market trend. Last week in the Southern Plains live cash trades moved at 128.00. For prior week in the Northern Plains live cash trades moved at 129.00 and dressed cash trades, in Nebraska, moved mostly at 208.00 with a few up to 209.00. For the previous week in the Western Cornbelt live cash trades ranged from 129.00-131.00 and dressed cash trades moved at 208.00.

  

Negotiated Sales:

Confirmed: 1,353 --- Week Ago: none --- Year Ago: 5,328

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,700

Weighted avg weight:            844

Weighted avg net price:    203.90

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Monday saw no new trade to report. This week's showlist has been compiled with volumes larger than the previous week. For the week ending March 16th western Canadian fed slaughter volumes totaled just over 38,000 head, slaughter volumes are 4% larger than last year. For the middle of March this is the largest slaughter volumes since 2010. Even though fed prices have improved feeding losses are still estimated around 150/head.

 

Livestock Slaughter under Federal Inspection:                                  

                                 Cattle       Calves     Hogs         Sheep

Tuesday (est           119,000    2,000     476,000     9,000

Week ago (est)       120,000    2,000     467,000     9,000

Year ago (act)         120,000    2,000     461,000    10,000

Week to date (est)  238,000    4,000     950,000    18,000

Last Week (est)       235,000    4,000     930,000    20,000

Last Year (act)         235,000    3,000     920,000    20,000

Previous Day (Estimated)  Steers & Heifers     Cows & Bulls

                             Monday         96,000                  23,000

 

Boxed Beef: 

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

 

Cutout Values...                 Choice     Select

Current Cutout Values:     229.51     218.99

Change from prior day:       +0.51       +0.26

Choice/Select spread:            10.52

Total Load Count (Cuts, Trimmings, Grinds): 120

 

Cutter Cow Cutout: 168.67… +0.08

 

CME Feeder Cattle Index: 142.04… +0.24

 

Futures

Live Cattle:

April: 126.90… -0.67

June: 120.72… -0.40

August: 117.57… -0.40

Feeder Cattle:

March: 142.75… +0.58

April: 146.22… +0.02

May: 149.80… -0.90

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April Hogs: 79.72… +1.07

April Crude Oil: 59.94… +1.12

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May Corn: 3.7725… -0.0250

May Soybeans: 9.0075… -0.0575

May Wheat: 4.6925… -0.0025

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Grain Cash Bids:

Kansas City Corn: 3.75… -0.03

Kansas City Soybeans: 8.62… -0.06

Kansas City Wheat: 4.47… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 25,657.73… +140.90

S & P 500: 2,818.46… +20.12

NASDAQ: 7,691.52… +53.98

U.S. Dollar Index: 96.81… +0.17

Cotton (www.ams.usda.gov): 

May Cotton Futures: 77.89… +0.16

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.06… +0.01