May 08 2020

Texas Daily Ag Market News Summary Posted 3 years 352 days ago by Administrator Account

Daily Market Summary for May 8^th

The Daily Market News Report bought to you by The Cattle Range. Please visit their website for more information!

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Slaughter Cattle:

As of 3:00 PM Friday, negotiated trade was light on moderate demand in all feeding regions. Compared to Wednesday in the Southern Plains, live purchases traded 5.00 higher mostly at 115.00. In Nebraska compared to Wednesday, live purchases traded mostly 19.00-20.00 higher from 112.00-115.00, bulk from 114.00-115.00. A few dressed purchases were reported from 160.00-183.00 however not enough for an adequate market trend. The latest established dressed market in Nebraska was on Wednesday from 145.00-180.00, bulk at 150.00. In the Western Cornbelt on Friday a few purchases were reported from 100.00-113.00 and from 160.00-183.00, however not enough for an adequate market test. The latest live market in the Western Cornbelt was on Thursday with live purchases mostly at 103.00 with dressed purchases on Wednesday ranging from 145.00-180.00, bulk at 180.00.

   

Negotiated Sales:

Confirmed:        11,392

Week Ago:         17,193

Year Ago:             4,343

      

Formula Net

Dressed Steers & Heifers:

Head count priced today: 16,000

Weighted avg. weight:       877 lbs.

Weighted avg. net price:   163.72

        

Cattle Slaughter under Federal Inspection:

Thursday (est)                      85,000

Week ago (est)                     77,000

Year ago (act)                     119,000

Week to Date                     408,000

Same Period Last Week   378,000

Same Period Last year     596,000

Previous Day (est)

Steers & Heifers:  64,000

Cows & Bulls:        22,000

                                                                                                              

Boxed Beef:

Cutout Values:

Choice: 460.88… +2.34

Select:  448.99… +0.42

Choice/Select Spread: 11.89

Total Load Count: 106

        

Cutter Cow Cutout:

221.23… +7.85

   

CME Feeder Cattle Index for May 7^th:

121.14… +0.75

       

Futures…

Live Cattle:

June: 94.65… +0.68

August: 100.20… +0.25

October: 104.27… +0.25

   

Feeder Cattle:

May: 127.90… -2.37

August: 136.95… -1.20

September: 138.15… -0.87

     

May Hogs: 67.30… -1.50

June Crude Oil: 24.74… +1.19

   

May Corn: 3.1900… +0.0300

May Soybeans: 8.4875… +0.0725

May Wheat: 5.2950… +0.0050

   

Grain Cash Bids:

Kansas City Corn: 3.20… +0.01

Kansas City Soybeans: 8.41… +0.07

Kansas City Wheat: 5.02… -0.01

   

Financial Markets:

DJIA: 24,331.32… +455.43

S & P 500: 2,929.80… +48.61

NASDAQ: 9,121.32… +141.66

U.S. Dollar Index: 99.77… -0.12