Feb 05 2020

Texas Daily Ag Market News Summary Posted 4 years 81 days ago by Administrator Account

Daily Market Summary for February 5th

 The Daily Market News Report 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, negotiated cash trading has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash trading has been inactive on very light demand. Not enough trades for a market trend. Last week in the Southern Plains and Nebraska live cash trades moved at 122.00. In Nebraska dressed cash trades moved at 195.00 for the prior week. In the Western Cornbelt for the previous week live cash trades moved from 122.00-123.00 and the bulk of dressed cash trades moved from 194.00-195.00.

    

Negotiated Sales:

Confirmed:     876

Week Ago:      893

Year Ago:     1,554

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 17,400

Weighted avg. weight:       880 lbs.

Weighted avg. net price:   196.55

         

Cattle Slaughter under Federal Inspection:

Wednesday (est)              122,000

Week ago (est)                  123,000

Year ago (act)                    121,000

Week to Date                     365,000

Same Period Last Week    362,000

Same Period Last year      358,000

Previous Day (est)

Steers & Heifers:  98,000

Cows & Bulls:        24,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 210.72… -0.21

Select:  207.94… +0.43

Choice/Select Spread: 2.78

Total Load Count: 133

     

Cutter Cow Cutout:

184.51… -2.62

    

CME Feeder Cattle Index:

141.43… -0.31

    

Futures…

Live Cattle:

February: 120.75… -0.87

April: 119.17… -1.48

June: 110.82… -0.93

    

Feeder Cattle:

March: 135.67… -1.83

April: 137.25… -1.67

May: 139.55… -1.75

      

April Hogs: 61.87… -0.45

February Crude Oil: 50.75… +1.14

    

March Corn: 3.8075… -0.0150

March Soybeans: 8.8000… +0.0050

March Wheat: 5.6200… +0.0475

    

Grain Cash Bids:

Kansas City Corn: 3.93… Unchanged

Kansas City Soybeans: 8.78… +0.05

Kansas City Wheat: 5.62… +0.07

    

Financial Markets:

DJIA: 29,290.72… +482.82

S & P 500: 3,334.71… +37.08

NASDAQ: 9,508.68… +40.71

U.S. Dollar Index: 98.29… +0.33