Feb 01 2023

Texas Daily Ag Market News Summary Posted 1 years 83 days ago by Administrator Account

Daily Market Summary for February 1st

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

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Slaughter Cattle:

As of 3:00 PM Wednesday, negotiated cash trade has been at a standstill in the Southern Plains and Nebraska. In the Western Cornbelt negotiated cash traded has been mostly inactive with very light demand. Not enough purchases for a market trend. Last week in the Southern Plains live purchases traded at 156.00. In Nebraska last week, live and dressed purchases traded from 153.00-156.00 and at 248.00, respectively. Last week in the Western Cornbelt live and dressed purchases traded from 152.00-157.00 and at 248.00, respectively.

Negotiated Sales:

Confirmed:           275

Week Ago:         1,123

Year Ago:         36,796

Formula Net - Dressed Steers & Heifers:

Head count priced today:   24,200

Weighted avg. weight:         867.00

Weighted avg. net price:     253.02

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Cattle Slaughter under Federal Inspection

Wednesday (est)                127,000

Week ago (est)                     127,000

Year ago (act)                       120,000

Week to Date                       375,000

Same Period Last Week     378,000

Same Period Last Year       362,000

Tuesday:

Steers & Heifers:                 101,000

Cows & Bulls:                         26,000

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Boxed Beef:

Cutout Values:

Choice: 265.07… -1.02

Select:  252.78… -0.14

Choice/Select Spread: 12.29

Total Load Count: 121

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Cutter Cow Cutout:

197.00…+0.21

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CME Feeder Cattle Index for January 31st:

180.37… -0.05 / -0.03%

1 Year Change: +13.49%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 158.42… -0.43

April: 162.22… -0.80

June: 158.70… -0.45

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Feeder Cattle:

March: 183.25… -2.90

April: 187.95… -2.10

May: 192.40… -1.57

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April Lean Hogs: 84.30… -2.12

March Crude Oil: 76.41… -2.46

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March Corn: 6.8100… +0.0125

March Wheat: 7.5975… -0.0150

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Grain Cash Bids:

Omaha Corn: 7.16… +0.01

Kansas City Wheat: 8.33… +0.04

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Financial Markets:

DJIA: 34,094.34… +7.46

S & P 500: 4,119.47…+42.77

NASDAQ: 11,816.32…+231.77

U.S. Dollar Index: 101.16… -0.94