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Feb
02
2023

Texas Daily Ag Market News Summary

Posted 1 years 54 days ago by Administrator Account

Daily Market Summary for February 2nd

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

 


Slaughter Cattle:

As of 3:00 PM Thursday in the Western Cornbelt, negotiated cash trade has been limited on light demand. A few live purchases traded at 154.00. In the Southern Plains negotiated cash trade has been at a standstill. In Nebraska negotiated cash trading has been mostly inactive with very light demand. However, not enough purchases in any region for a full 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:         3,271

Week Ago:        18,987

Year Ago:          19,239

Formula Net - Dressed Steers & Heifers:

Head count priced today:   33,600

Weighted avg. weight:         858.00

Weighted avg. net price:     254.61

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Cattle Slaughter under Federal Inspection

Thursday (est)  125,000

Week ago (est)  126,000

Year ago (act)    114,000

Week to Date    500,000

Last Week          504,000

Last Year            476,000

Wednesday:

Steers & Heifers: 98,000

Cows & Bulls:       29,000

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Boxed Beef:

Cutout Values:

Choice: 265.10… +0.03

Select:  253.66… +0.88

Choice/Select Spread: 11.44

Total Load Count: 150

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Cutter Cow Cutout:

199.09… +2.09

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CME Feeder Cattle Index for February 1st:

180.90… +0.53 / +0.29%

1 Year Change: +13.59%

52 Week Range: 152.31 to 183.59

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Futures Settlements…

Live Cattle:

February: 159.75… +1.33

April: 163.82… +1.60

June: 160.00… +1.30

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Feeder Cattle:

March: 185.92… +2.67

April: 190.07… +2.12

May: 194.25… +1.85

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April Lean Hogs: 86.00… +1.70

March Crude Oil: 75.88… -0.53

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March Corn: 6.7525… -0.0575

March Wheat: 7.7200… +0.1225

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Grain Cash Bids:

Omaha Corn: 7.10… -0.06

Kansas City Wheat: 8.41… +0.08

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Financial Markets:

DJIA: 34,053.74… -40.60

S & P 500: 4,179.73…+60.26

NASDAQ: 12,200.82… +384.50

U.S. Dollar Index: 101.72… +0.50






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