Jan 22 2020

Texas Daily Market News Summary Posted 4 years 94 days ago by Administrator Account

Daily Market Summary for January 22nd

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

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Slaughter Cattle:

As of 3:00 PM Wednesday in the Southern Plains, negotiated cash trade and demand has been moderate with live trades moving steady at 124.00. Trading in the Nebraska and Western Cornbelt has been limited on light to moderate demand. Not enough trade for and adequate market trend. Last week in Nebraska, live purchases traded at 124.00 with dressed purchases mostly from 198.00-200.00, bulk at 199.00. In the Western Cornbelt last week, live cash trades moved from 123.00-125.00 and dressed cash trades moved from 198.00-199.00.

    

Negotiated Sales:

Confirmed:     22,076

Week Ago:           584

Year Ago:          1,579

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 15,200

Weighted avg weight:       860 lbs.

Weighted avg net price:   198.33

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)               123,000

Week ago (est)                  122,000

Year ago (act)                    116,000

Week to Date                    368,000

Same Period Last Week   366,000

Same Period Last year     349,000

Previous Day (est)

Steers & Heifers:  97,000

Cows & Bulls:        26,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 214.96… +0.45

Select:  212.02… -1.45

Choice/Select Spread: 2.94

Total Load Count:  157

     

Cutter Cow Cutout:

186.76… -0.25

    

CME Feeder Cattle Index:

145.17… -0.29

    

Futures…

Live Cattle:

February: 126.17… -0.20

April: 126.77… -0.45

June: 118.45… -0.72

    

Feeder Cattle:

January: 143.92… -1.15

March: 143.05… -1.62

April: 146.02… -1.53

      

March Hogs: 67.55… +0.20

February Crude Oil: 56.74… -1.60

    

March Corn: 3.8875… +0.0125

March Soybeans: 9.1375… -0.0225

March Wheat: 5.7775… -0.0375

    

Grain Cash Bids:

Kansas City Corn: 3.98… +0.01

Kansas City Soybeans: 8.97… -0.03

Kansas City Wheat: 5.70… -0.04

    

Financial Markets:

DJIA: 29,186.82… -9.22

S & P 500: 3,321.81… +1.02

NASDAQ: 9,383.77… +12.96

U.S. Dollar Index: 97.53… Unchanged