Feb 20 2019

Texas Daily Ag Market News Summary Posted 5 years 59 days ago by Administrator Account

Daily Market Summary for February 20th  

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 Wednesday, negotiated cash 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 125.00. Dressed purchases in Nebraska traded at 200.00. Last week in the Western Cornbelt, live purchases ranged from 124.00-126.00 with dressed purchases from 199.00-200.00.

 

Negotiated Sales:

Confirmed: 67 --- Week Ago: 3,086 --- Year Ago: 26,602

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 18,200

Weighted avg weight:           857

Weighted avg net price:   201.11

 

Alberta Beef Producers Daily Report:

Alberta direct cattle sales Tuesday saw no new trade to report. This week's showlist has been compiled with volumes smaller than the previous week. The week over week decline in showlist was related to fewer grid cattle being committed to the packers. With few grid cattle that should improve interest on the cash market. Alberta fed prices are trading at a discount to both the US and Ontario markets.

  

Livestock Slaughter under Federal Inspection:                                  

                                  Cattle       Calves     Hogs          Sheep

Wednesday  (est    108,000    3,000     463,000        7,000

Week ago (est)       108,000    3,000     464,000        7,000

Year ago (act)          113,000    2,000     464,000       8,000

Week to date (est) 322,000    7,000   1,415,000    23,000

Last Week (est)       342,000    7,000   1,361,000    23,000

Last Year (act)         326,000    5,000   1,339,000    22,000

Previous Day Estimated       Steers & Heifers     Cows & Bulls

                         Tuesday              89,000                   25,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     216.49     211.50

Change from prior day:        -0.78       -2.04

Choice/Select spread:           4.99

Total Load Count (Cuts, Trimmings, Grinds):  152

 

Cutter Cow Cutout: 164.27… -0.90

 

CME Feeder Cattle Index: 141.10… -0.18

 

Futures

Live Cattle:

February: 128.32… +0.45

April: 129.20… +0.75

June: 119.32… +0.72

Feeder Cattle:

March: 143.37… +0.12

April: 146.07… +0.07

May: 147.00… Unchanged

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April Hogs: 52.97… -3.55

March Crude Oil: 56.92… +0.83

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March Corn: 3.7075… +0.0100

March Soybeans: 9.0250… +0.0175

March Wheat: 4.8075… -0.0900

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Grain Cash Bids:

Kansas City Corn: 3.69… +0.01

Kansas City Soybeans: 8.57… +0.02

Kansas City Wheat: 4.56… -0.09

 

Financial Markets:

Dow Jones Industrial Average: 25,954.44… +63.12

S & P 500: 2,784.70… +4.94

NASDAQ: 7,489.07… +2.30

U.S. Dollar Index: 96.51… -0.02

Cotton (www.ams.usda.gov): 

March Cotton Futures: 70.28… -0.13

Milk (www.cmegroup.com): 

February Class III Milk Futures: 14.01… +0.03