Feb 25 2019

Texas Daily Ag Market News Summary Posted 5 years 54 days ago by Administrator Account

Daily Market Summary for February 25th  

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 Monday, trading has been inactive with very light demand in all major feeding regions. Not enough trades for a market trend. Last week in Kansas live cash trades moved at 126.00 with a light test noted. For the prior week in Nebraska live cash trades moved mostly at 126.50 and dressed cash trades moved at 202.00. For the previous week in the Western Cornbelt live cash trades moved from 124.50-128.00 and dressed cash trades moved at 202.00. Two week ago in the Texas Panhandle live cash trades moved at 125.00.

 

Negotiated Sales:

Confirmed: 115 --- Week Ago: 693 --- Year Ago: 651

 

Formula Net - Dressed Steers & Heifers

Head count priced today: 43,400

Weighted avg weight:             836

Weighted avg net price:    198.75

  

Alberta Beef Producers Daily Report:

Alberta direct cattle sales last week saw light trade develop with weighted average steer and heifer prices closing the week at 148.00 and 146.50 respectively. Prices are 0.50-2.00 lower than the previous week. All reported cash sales traded locally. With larger slaughter volumes and bigger carcass weight compared to last year more beef is being produced. YTD Canadian fed beef production is up over 10% compared to last year. This is part of the reason why fed prices have struggled as of late. Looking at the non-fed market butcher cows traded steady to 1.00 higher through commercial auction facilities last week.

  

Livestock Slaughter under Federal Inspection:                                  

                                Cattle        Calves     Hogs          Sheep

Monday (est            114,000    2,000     367,000      8,000

Week ago (est)       100,000    2,000      476,000      7,000

Year ago (act)         116,000    2,000      464,000      8,000

Previous Day (Estimated)     Steers & Heifers     Cows & Bulls

                                Friday            90,000                   24,000

                            Saturday           17,000                    10,000

 

Boxed Beef: 

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

Cutout Values...                 Choice     Select

Current Cutout Values:     219.55     214.57

Change from prior day:       +0.16       +2.22

Choice/Select spread:           4.98

Total Load Count (Cuts, Trimmings, Grinds):  83

 

Cutter Cow Cutout: 165.84… +0.84

 

CME Feeder Cattle Index: 140.42… -0.89

 

Futures

Live Cattle:

February: 128.55… -0.12

April: 129.22… +0.35

June: 119.60… +0.13

Feeder Cattle:

March: 142.50… -0.40

April: 145.65… +0.35

May: 147.02… +0.17

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April Hogs: 53.90… -1.55

April Crude Oil: 55.48… -1.78

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March Corn: 3.7050… -0.0475

March Soybeans: 9.1175… +0.0150

March Wheat: 4.6675… -0.2000

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Grain Cash Bids:

Kansas City Corn: 3.68… -0.05

Kansas City Soybeans: 8.73… +0.03

Kansas City Wheat: 4.42… -0.20

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Financial Markets:

Dow Jones Industrial Average: 26,091.96… +60.14

S & P 500: 2,796.11… +3.44

NASDAQ: 7,554.46… +26.91

U.S. Dollar Index: 96.26… -0.07

Cotton (www.ams.usda.gov): 

March Cotton Futures: 71.93… +0.09

Milk (www.cmegroup.com): 

February Class III Milk Futures: 13.95… +/-0.00