Posted 46 days ago ago by Texas Department of Agriculture
Feeder cattle auction reported mixed
prices; Futures higher.
Fed cattle cash trade active;
Formula trades lower; Futures higher; Beef prices higher.
Cotton prices uneven.
Grains and soybeans lower.
Milk futures lower.
Crude oil lower; Natural gas higher.
Stock markets lower.
Texas feeder cattle
auctions were mixed reporting prices steady to $10 higher and steady to $2
lower. March Feeder cattle futures
were 42 cents higher, closing at $124.37 per hundredweight (cwt). The Texas fed cattle cash was active today,
closing at $124.49. April Fed cattle
futures were 62 cents higher, closing at $115.97 per cwt. Wholesale boxed beef values were higher,
with Choice grade gaining $1.61 to close at $213.61 per cwt and Select grade gaining
$2.24 to close at $207.29 per cwt. Estimated
cattle harvest for the week totaled 344,000 down 2,000 from last week’s
total and up 17,000 from a year ago. Year-to-date harvest is up 5.2%.
Cotton prices were uneven
with cash prices gaining 0.25 cents to close at 75.75 cents per pound and March
futures losing 0.38 cents to close at 76.90 cents per pound.
Corn prices were lower
with cash prices losing 4 cents to close at $3.65 per bushel and March futures
losing an nickel to close at $3.65 per bushel. Grain Sorghum cash prices were 7 cents lower, closing at $5.52 per
Wheat prices were lower
with cash prices losing 7 cents to close at $3.76 per bushel and March futures
losing 6 cents to close at $4.57 per bushel.
Milk prices were lower
with April Class III losing 7 cents to close at $15.88 per cwt.
Stock markets closed
lower again, as the recent declines in crude oil prices are beginning to drag
down energy shares. April Crude oil
futures were $2.86 lower, closing at $50.28 per barrel.
DailyMarket News Summary Data 03/08/17
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March 5, 2017 - The Senate is taking the final congressional step this week to
kill the Obama administration’s overhaul of the way the Bureau of Land
Management makes land-use decisions.
House voted 234-186 in
February to approve a resolution that
would eliminate the BLM Planning 2.0 rule, which ranchers and other critics say
would dilute the influence of local and regional officials on BLM decisions.
Senate is scheduled to vote Tuesday on the measure. If the Senate OKs it, the
rule would be eliminated once President Trump signs the resolution.
rule, issued in December, is one of a series of regulations issued in the final
months of the Obama administration that the Republican Congress is trying to
kill through use of the Congressional Review Act, a 1996 law that had been used
successfully only once prior to this year. A CRA resolution must be approved
within a limited time after the Congress is formally notified that the
regulation is taking effect.
BLM resolution attracted just four Democratic votes in the House but the lack
of bipartisan support isn’t a problem in the Senate since resolutions of
disapproval there require only a simple majority to pass. Ordinary bills must
have 60 votes to overcome a filibuster.
is a common-sense use of Congress’ authority under the CRA,” said Ethan Lane,
executive director of the Public Lands Council and director of federal land
policy for the National Cattlemen’s Beef Association.
2.0 was finished hastily and pushed out the door over the objections of the
local communities and stakeholders it will impact most. Hitting the reset
button now will allow BLM the opportunity to update the planning process
properly, with impacted stakeholders and communities at the table.”
of the rule say it provides for broader, ecosystem-wide management and better
accounts for the environmental impact of BLM decisions. The Pew Charitable
Trusts argues that the rule would ensure that “states and counties, scientists,
ranchers, hunters and anglers, miners, hikers, boaters, the energy industry,
and other users of public lands” can all have input to its management.
Senate is beginning to catch up on confirming Trump’s Cabinet nominees, having
approved Interior Secretary Ryan Zinke, Energy Secretary Rick Perry and
Commerce Secretary Wilbur Ross last week. The Senate Agriculture Committee
continues to wait on the White House to deliver the formal paperwork for Sonny
Perdue’s nomination as Agriculture secretary.
also have not been scheduled for Robert Lighthizer, Trump’s pick for U.S. Trade
Representative and Labor nominee Alexander Acosta.
this week, the House Agriculture Committee will continue its preparation for
writing a new farm bill by holding two additional subcommittee hearings on
Thursday, one on rural
development and energy programs and the other on programs
that assist fruit, vegetable and nut producers.
Chairman Mike Conaway, R-Texas, reiterated
at the annual Commodity Classic on Friday in San Antonio that he
wanted to get a new farm bill enacted by the time the existing one expires next
you want the drama associated with short-term extensions or expirations and
permanent law, I need you to go to a different theater,” he said. Trump wants a
“strong farm bill and on time,” Conaway said.
committee sent a letter to
the House Budget Committee urging it not to propose cuts in farm bill spending.
on Thursday, the Food and Drug Administration will hold a public hearing on the
use of the term “healthy” in food labeling. FDA
announced last fall that it was considering new regulations for the term and
was soliciting public
input on a series of questions about what “healthy” should mean.
other things, the agency wants to know what consumers expect of foods that are
labeled as healthy and what factors and criteria should be used for the new
a list of agriculture- or rural-related events scheduled for this week in
Washington and elsewhere:
National Anti-Hunger Policy
Conference, through Tuesday, Omni Shoreham.
Farmers Union annual convention,
through Wednesday, San Diego.
Anti-Hunger Policy Conference.
a.m. - Senate Commerce, Science and Transportation oversight
hearing on the Federal Communications Commission,
a.m. - Senate Transportation-HUD Appropriations Subcommittee hearing on
infrastructure funding, 192 Dirksen.
day - FDA holds public
meeting on use of the term “healthy” in labeling foods, Hilton
a.m. - USDA releases Weekly
Export Sales report.
a.m. - House Agriculture subcommittee hearing on
rural development and energy programs, 1300 Longworth.
p.m. - House Agriculture subcommittee hearing on
specialty crops and the farm bill, 1300 Longworth.
a.m. - House State and Foreign Operations Appropriations Subcommittee oversight
hearing, 2362-A Rayburn.
a.m. - House Transportation and Infrastructure Committee hearing on
the federal role in water infrastructure, 2167 Rayburn.
a.m. - Senate Homeland Security and Government Affairs Committee hearing on
the use of science in agency rulemaking, 342 Dirksen.
- USDA releases the monthly Crop
Production report and World Agricultural Supply and
3 p.m. - USDA releases report, Price
Reaction after Crop Reports.