Mar 24 2020

Texas Daily Ag Market News Summary Posted 4 years 26 days ago by Administrator Account

Daily Market Summary for March 24th

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Slaughter Cattle:

As of 3:00 PM Tuesday, negotiated cash trading has been inactive on very light demand in all feeding regions. Not enough purchases in any feeding region for an adequate market test. The latest established market in any feeding region was last week with live purchases in the Texas Panhandle from 105.00-113.00, bulk at 110.00. In Kansas last week, live purchases traded from 105.00-113.00, bulk from 110.00-112.00. Last week in Nebraska live purchases traded from 105.00-112.00, bulk from 105.00-110.00 with dressed purchases from 170.00-175.00. Last week in the Western Cornbelt live purchases traded from 110.00-112.00 with dressed purchases from 170.00-175.00.

   

Negotiated Sales:

Confirmed:       1,192

Week Ago:      14,759

Year Ago:          1,353

    

Formula Net

Dressed Steers & Heifers:

Head count priced today:  22,700

Weighted avg. weight:       864 lbs.

Weighted avg. net price:   174.52

        

Cattle Slaughter under Federal Inspection:

Tuesday (est)                     123,000

Week ago (est)                  121,000

Year ago (act)                    119,000

 Week to Date                    239,000

Same Period Last Week    237,000

Same Period Last year      238,000

Previous Day (est)

Steers & Heifers:  92,000

Cows & Bulls:        24,000

                                                                                                              

Boxed Beef:

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

Cutout Values:

Choice: 256.31… -1.01

Select:  245.48… +0.34

Choice/Select Spread: 10.83

Total Load Count: 135

        

Cutter Cow Cutout:

183.89… -0.99

   

CME Feeder Cattle Index for March 23rd:

118.23… +2.08

   

Futures…

Live Cattle:

April: 106.15… +4.50

June: 97.02… +4.50

August: 98.25… +4.50

   

Feeder Cattle:

March: 130.22… +5.00

April: 130.07… +6.75

May: 129.50… +6.75

     

April Hogs: 66.42… +1.85

April Crude Oil: 24.01… +0.65

   

May Corn: 3.4725… +0.0375

May Soybeans: 8.8675… +0.0275

May Wheat: 5.6150… -0.0100

   

Grain Cash Bids:

Kansas City Corn: 3.53… +0.03

Kansas City Soybeans: 8.82… +0.03

Kansas City Wheat: 5.54… -0.01

   

Financial Markets:

DJIA: 20,704.91… +2,112.98

S & P 500: 2,447.33… +209.85

NASDAQ: 7,417.86… +557.19

U.S. Dollar Index: 102.03…-0.45