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Feb
07
2020

Texas Daily Ag Market News Summary

Posted 18 days ago ago by Administrator Account

Daily Market Summary for February 7th

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! 

Slaughter Cattle:
As of 3:00 PM Friday in the Southern Plains, negotiated cash trading has been slow to moderate on light to moderate demand. Compared to last week live cash trades moved 1.00 lower at 121.00. Thus far for Friday in Nebraska negotiated cash trading has been slow to moderate on moderate demand. A few early live cash trades moved mostly at 121.00 and a few early dressed cash trades moved from 193.00 to 194.00. However, not enough trades for a full market trend. Last week live cash trades moved at 122.00 and dressed cash trades moved at 195.00. So far for Friday in the Western Cornbelt negotiated cash trading has been limited on light demand. Not enough trades for a market trend. 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:  36,150
Week Ago:   15,617
Year Ago:       4,171
     
Formula Net
Dressed Steers & Heifers:
Head count priced today: 25,400
Weighted avg. weight:       869 lbs.
Weighted avg. net price:   196.65
         
Cattle Slaughter under Federal Inspection:
Friday (est)                        115,000
Week ago (est)                  122,000
Year ago (act)                    114,000
Week to Date                    601,000
Same Period Last Week   607,000
Same Period Last year      591,000
Previous Day (est)
Steers & Heifers:  96,000
Cows & Bulls:        25,000
                                                                                                               
Boxed Beef:
Boxed beef cutout values lower on Choice and Sharply lower on Select on light to moderate demand and offerings. Select and Choice chuck, round, and loin cuts steady to weak. Choice rib cuts steady while Select lower. Beef trimmings mostly sharply lower on light demand and heavy offerings.
Cutout Values:
Choice: 210.12… -0.81
Select:  203.89… -2.07
Choice/Select Spread: 4.97
Total Load Count: 130
     
Cutter Cow Cutout:
184.39… -1.82
    
CME Feeder Cattle Index:
140.63… -0.90
    
Futures…
Live Cattle:
February: 121.32… +0.20
April: 119.80… +0.05
June: 111.27… +0.10
    
Feeder Cattle:
March: 135.20… -0.70
April: 137.50… -0.07
May: 139.57… -0.40
      
April Hogs: 66.25… +1.38
February Crude Oil: 50.32… -0.53
    
March Corn: 3.8350… +0.0425
March Soybeans: 8.8200… +0.0100
March Wheat: 5.5875… +0.0250
    
Grain Cash Bids:
Kansas City Corn: 3.96… +0.04
Kansas City Soybeans: 8.82… +0.03
Kansas City Wheat: 5.51… -0.05
    
Financial Markets:
DJIA: 29,102.83… -277.21
S & P 500: 3,327.69… -18.08
NASDAQ: 9,520.51… -51.64
U.S. Dollar Index: 98.69… +0.19