Jan 29 2020

Texas Daily Market News Summary Posted 4 years 88 days ago by Administrator Account

Daily Market Summary for January 29th

   

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trading has been at a standstill in the Southern Plains. In Nebraska and the Western Cornbelt negotiated cash trade has been mostly inactive on very light demand. Not enough trades for a market trend. The latest established market in any feeding region was last week with live trades in the Southern Plains and Nebraska at 124.00. Dressed trades in Nebraska last week traded at 199.00. In the Western Cornbelt last week, live trades moved from 124.00-126.00, bulk from 124.00-125.00 with dressed trades mostly from 198.00-199.00, with a few up to 199.50.

The FCE On-Line Auction offered 477 head on Wednesday with none sold.

    

Negotiated Sales:

Confirmed:       893

Week Ago:  22,076

Year Ago:            68

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 26,000

Weighted avg. weight:       877 lbs.

Weighted avg. net price:   199.77

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)              123,000

Week ago (est)                  123,000

Year ago (act)                    112,000

Week to Date                    362,000

Same Period Last Week   368,000

Same Period Last year     348,000

Previous Day (est)

Steers & Heifers:  92,000

Cows & Bulls:        25,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 213.52… +0.67

Select:  211.93… -0.23

Choice/Select Spread: 1.59

Total Load Count:  127

     

Cutter Cow Cutout:

186.65… -0.56

    

CME Feeder Cattle Index:

143.59… -0.17

    

Futures…

Live Cattle:

February: 121.75… -0.40

April: 120.22… -0.48

June: 112.00… -0.47

    

Feeder Cattle:

January: 142.10… +0.05

March: 134.97… -0.43

April: 137.07… -0.70

      

March Hogs: 64.30… -1.92

February Crude Oil: 53.33… -0.15

    

March Corn: 3.8425… -0.0225

March Soybeans: 8.9300… -0.0200

March Wheat: 5.6225… -0.0750

    

Grain Cash Bids:

Kansas City Corn: 3.94… -0.02

Kansas City Soybeans: 8.82… +0.01

Kansas City Wheat: 5.55… -0.07

    

Financial Markets:

DJIA: 28,735.09… +12.24

S & P 500: 3,273.46… -2.79

NASDAQ: 9,275.16… +5.48

U.S. Dollar Index: 98.09… +0.08