Feb 07 2019

Texas Daily Ag Market News Summary Posted 5 years 73 days ago by Administrator Account

Daily Market Summary for February 7th  

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 Thursday, trade was mostly inactive on light demand in all feeding regions. The latest established market in any feeding region was last week, with live purchases in the Southern Plains and Nebraska at 124.00. Dressed purchases in Nebraska last week ranged from 198.00-199.00, bulk at 198.00. In the Western Cornbelt, last week live purchases traded from 123.00-126.00 with dressed purchases from 197.00-200.00.

 

Negotiated Sales:

Confirmed: 1,584    Week Ago: 511    Year Ago: 144

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 26,000

Weighted avg weight:       858.00

Weighted avg net price:    198.94

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Wednesday saw light trade develop with live sales reported in the upper 140's, prices are 6.00 lower than last week's weighted average price. Over the past two weeks fed prices have dropped 10.00. Yesterday dressed bids were reported from 250.00-254.00 delivered. Bids are 8.00-9.00 lower than last week. On the cash market competition between the three western Canadian packers remains light.

 

Livestock Slaughter under Federal Inspection:                                  

                                    Cattle       Calves    Hogs         Sheep

Thursday (est           117,000    2,000      462,000      7,000

Week ago (est)        114,000    2,000      420,000      7,000

Year ago (act)           117,000    1,000      465,000      8,000

Week to date (est)  470,000    8,000   1,885,000    30,000

Last Week (est)        463,000    8,000   1,609,000    27,000

Last Year (act)          463,000    7,000   1,854,000    32,000

Previous Day Estimated -- Steers & Heifers -- Cows & Bulls

                          Wednesday      92,000                  25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.71     211.53

Change from prior day:       -0.86        -0.84

Choice/Select spread:          5.18

Total Load Count (Cuts, Trimmings, Grinds): 131

 

Cutter Cow Cutout: 163.08... -0.05

 

CME Feeder Cattle Index: 141.81… +0.28

 

Futures

Live Cattle:

February: 126.30… -0.10

April: 126.82… -0.33

June: 117.15… -0.07

Feeder Cattle:

March: 143.25… +0.08

April: 144.87… +0.02

May: 145.90… +0.38

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February Hogs: 55.27… -0.65

March Crude Oil: 52.64… -1.37

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March Corn: 3.7650… -0.0350

March Soybeans: 9.1325… -0.0850

March Wheat: 5.1325… -0.1275

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Grain Cash Bids:

Kansas City Corn: 3.68… -0.03

Kansas City Soybeans: 8.61… -0.08

Kansas City Wheat: 4.88… -0.13

 

Financial Markets:

Dow Jones Industrial Average: 25,169.53… -220.77

S & P 500: 2,706.05… -25.56

NASDAQ: 7,288.35… -86.93

U.S. Dollar Index: 96.54… +0.16

Cotton (www.ams.usda.gov): 

March Cotton Futures: 72.81… -0.85

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.98… +0.04