Feb 11 2020

Texas Daily Market News Summary Posted 4 years 74 days ago by Administrator Account

Daily Market Summary for February 11th

    

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!

---

Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trade was limited on light demand in Kansas, Nebraska and the Western Cornbelt. A very limited amount of live purchases in Kansas and Nebraska were reported from 119.00-120.00, however not enough for an adequate market test. Trade was inactive on light demand in the Texas Panhandle. The latest established market in any feeding region was last week with live purchases in the Southern Plains and Nebraska at 121.00. Dressed purchases last week in Nebraska traded mostly at 193.00. Last week in the Western Cornbelt, live purchases traded from 121.00-122.00 with dressed purchases mostly at 193.00.

    

Negotiated Sales:

Confirmed:  3,669

Week Ago:      170

Year Ago:        919

     

Formula Net

Dressed Steers & Heifers:

Head count priced today: 35,900

Weighted avg. weight:       869 lbs.

Weighted avg. net price:   194.15

         

Cattle Slaughter under Federal Inspection:

Tuesday (est)                    122,000

Week ago (est)                  122,000

Year ago (act)                    121,000

Week to Date                    241,000

Same Period Last Week   243,000

Same Period Last year     239,000

Previous Day (est)

Steers & Heifers:  90,000

Cows & Bulls:        23,000

                                                                                                               

Boxed Beef:

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

Cutout Values:

Choice: 207.83… -1.08

Select:  204.53… +0.83

Choice/Select Spread: 3.30

Total Load Count: 112

     

Cutter Cow Cutout:

185.67… -0.06

    

CME Feeder Cattle Index:

140.67… +0.26

    

Futures…

Live Cattle:

February: 119.07… -1.23

April: 117.17… -1.50

June: 109.12… -1.33

    

Feeder Cattle:

March: 134.67… -1.03

April: 136.72… -0.80

May: 138.47… -0.98

      

April Hogs: 64.22… -0.85

February Crude Oil: 49.94… +0.37

    

March Corn: 3.7975… -0.0200

March Soybeans: 8.8475… +0.0050

March Wheat: 5.4200… -0.1000

    

Grain Cash Bids:

Kansas City Corn: 3.92… -0.02

Kansas City Soybeans: 8.85… +0.01

Kansas City Wheat: 5.35… -0.10

    

Financial Markets:

DJIA: 29,276.27… -0.51

S & P 500: 3,357.76… +5.66

NASDAQ: 9,638.94… +10.55

U.S. Dollar Index: 98.75… -0.09