Mar 22 2019

Texas Daily Ag Market News Summary Posted 5 years 29 days ago by Administrator Account

Daily Market Summary for March 22nd  

The Daily Market News Report bought to you by The Cattle Range. Please visit https://cattlerange.com/cattle-market-reports-analysis/daily-summary/ for more information!

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Slaughter Cattle:  

As of 3:00 PM Friday trade and demand has been light to moderate in the Southern Plains with live purchases 1.00 higher than last week at 128.00. In Nebraska and the Western Cornbelt, trade has been light on light to moderate demand with early dressed sales at 208.00, however not enough for an adequate market trend. Trade was slow on light demand in Colorado, not enough for a market trend. For the prior week in Nebraska, live purchases moved mostly at 127.00, with a few up to 128.00, and dressed purchases moved at 204.00 on very light test. Last week in Colorado, live purchases moved at 127.00. For the previous week in the Western Cornbelt, live purchases moved from 126.00-128.00 and dressed purchases ranged from 203.00-206.00.

  

Negotiated Sales:

Confirmed: 32,125 --- Week Ago: 5,706 --- Year Ago: 4,266

 

Formula Net - Dressed Steers & Heifers

Head count priced today:  23,000

Weighted avg weight:             824

Weighted avg net price:     202.96

   

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Thursday saw light trade develop with dressed sales ranging from 265.00-266.00 delivered. Sales are fully steady with prices seen on Wednesday and 5.00-6.00 higher than last week. Buyers were indicating cattle that they bought last week would be lifted in early April. Cash to futures basis levels did weaken and remain much weaker than the five year average. Fed cattle prices and butcher cow prices through commercial auction facilities did strengthen.

  

Livestock Slaughter under Federal Inspection:                                  

                                   Cattle       Calves     Hogs            Sheep

Friday (est               113,000    2,000         455,000        8,000

Week ago (est)       100,000    2,000         434,000        6,000

Year ago (act)         109,000    3,000         453,000        8,000

Week to date (est) 589,000   12,000    2,342,000      43,000

Last Week (est)       547,000   12,000    2,285,000      34,000

Last Year (act)         585,000   10,000    2,299,000      43,000

Saturday (est             42,000        0             166,000        1,000

Week ago (est)          50,000        0             162,000        1,000

Year ago (act)            26,000        0             112,000        2,000

Week to date (est)   631,000    12,000    2,508,000     44,000

Last Week (est)        597,000    12,000    2,447,000     35,000

Last Year* (act)        611,000    10,000     2,410,000     44,000

2019 YTD                7,175,000  139,000  29,171,000   437,000

2018 *YTD              7,165,000  123,000  28,514,000   450,000

Percent change          0.1%        13.3%          2.3%          -3.0%

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                          Thursday            94,000                  27,000

 

Boxed Beef: 

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

   

Cutout Values...                 Choice     Select

Current Cutout Values:     229.09     218.64

Change from prior day:       -0.22       +0.27

Choice/Select spread:        10.45

Total Load Count (Cuts, Trimmings, Grinds): 72

 

Cutter Cow Cutout: 168.24… -0.44

 

CME Feeder Cattle Index: 141.02… +1.90

 

Futures

Live Cattle:

April: 129.72… -0.18

June: 123.50… -0.40

August: 120.02… +0.05

Feeder Cattle:

March: 143.00… +0.23

April: 148.80… -0.12

May: 154.05… +0.05

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April Hogs: 78.32… Unchanged

April Crude Oil: 59.04… -0.94

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May Corn: 3.7825… +0.0200

May Soybeans: 9.0375… -0.0675

May Wheat: 4.6600… -0.0050

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Weekly National Grain Market Review:

Compared to last week, cash bids for wheat, corn, sorghum and soybeans were mostly higher.  Ethanol production for week ending March 15th totaled 1.004 million barrels per day, a slight decrease compared to the week prior. Export sales for week ending March 14th totaled 33.7 million bushels of corn, 14.7 million bushels of soybeans, and 7.2 million bushels of wheat.  Wheat was steady to 58 3/4 cents higher.  Corn was 4 1/4 to 41 cents higher.  Sorghum was 10 to 19 cents higher.  Soybeans were 12 to 19 cents higher.

 

Grain Cash Bids:

Kansas City Corn: 3.76… +0.03

Kansas City Soybeans: 8.69… +0.01

Kansas City Wheat: 4.44… Unchanged

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Financial Markets:

Dow Jones Industrial Average: 25,502.32… -460.19

S & P 500: 2,800.71… -54.17

NASDAQ: 7,642.67… -196.29

U.S. Dollar Index: 96.62… +0.69

Cotton (www.ams.usda.gov): 

May Cotton Futures: 76.58… -0.60

Milk (www.cmegroup.com): 

March Class III Milk Futures: 15.03… +/-0.00