Jan 30 2020

Texas Daily Market News Summary Posted 4 years 87 days ago by Administrator Account

Daily Market Summary for January 30th

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/ 

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Slaughter Cattle:

As of 3:00 PM Thursday, in the Southern Plains negotiated cash trading has been slow with moderate demand. Compared to Wednesday, the last reported market, live cash trades moved steady at 122.00. In Nebraska and the Western Cornbelt negotiated cash trade has been limited with light demand. Not enough trades for a market trend. Last week in Nebraska live cash trades moved at 124.00 and dressed cash trades moved at 199.00. For the prior week in the Western Cornbelt live cash trades moved mostly from 124.00-125.00 and dressed trades moved mostly from 198.00-199.00.

    

Negotiated Sales:

Confirmed:  28,985

Week Ago:  30,385

Year Ago:         511

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 31,000

Weighted avg. weight:       885 lbs.

Weighted avg. net price:   198.65

         

Cattle Slaughter under Federal Inspection:

Thursday (est)                   123,000

Week ago (est)                  122,000

Year ago (act)                    115,000

Week to Date                    485,000

Same Period Last Week   490,000

Same Period Last year     463,000

Previous Day (est)

Steers & Heifers:  95,000

Cows & Bulls:        28,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 213.35… -0.17

Select:  211.48… -0.45

Choice/Select Spread: 1.87

Total Load Count:  131

     

Cutter Cow Cutout:

186.66… +0.01

    

CME Feeder Cattle Index:

142.88… -0.71

    

Futures…

Live Cattle:

February: 121.77… +0.02

April: 120.20… -0.02

June: 112.02… +0.02

    

Feeder Cattle:

January: 142.45… +0.35

March: 135.65… +0.68

April: 137.12… +0.05

      

March Hogs: 61.30… -3.00

February Crude Oil: 52.14… -1.19

    

March Corn: 3.7950… -0.0475

March Soybeans: 8.7625… -0.1675

March Wheat: 5.6050… -0.0175

    

Grain Cash Bids:

Kansas City Corn: 3.89… -0.05

Kansas City Soybeans: 8.65… -0.17

Kansas City Wheat: 5.53… -0.02

    

Financial Markets:

DJIA: 28,858.53… +124.08

S & P 500: 3,283.60… +10.20

NASDAQ: 9,298.93… +23.77

U.S. Dollar Index: 97.84… -0.15