2017

Posted 7 years 14 days ago by

Feeder cattle auction reported higher prices; Futures higher.

Fed cattle cash trade higher; Formula trades lower; Futures higher; Beef prices higher.

Cotton prices higher.

Grains and soybeans uneven.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $10 higher. April Feeder cattle futures were 30 cents higher, closing at $137.80 per hundredweight (cwt). The Texas fed cattle cash was higher today gaining 82 cents to close at $126.82 per cwt. April Fed cattle futures were $1.17 higher, closing at $125.37 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 54 cents to close at $210.67 per cwt and Select grade gaining 12 cents to close at $198.76 per cwt. Estimated cattle harvest for the week totaled 457,000 up 9,000 from last week’s total and 16,000 from a year ago. Year-to-date harvest is up 3.7%.

Cotton prices were higher with cash prices gaining 0.75 cents to close at 76.00 cents per pound and May futures gaining 0.89 cents to close at 75.62 cents per pound.

Corn prices were higher with cash and May futures both gaining 2 cents to close at $3.65 per bushel and $3.71 per bushel, respectively. Grain Sorghum cash prices were 3 cents higher to close at $5.50 per cwt.

Wheat prices were lower with cash prices losing 2 cents to close at $3.45 per bushel and May futures losing 3 cents to close at $4.27 per bushel.

Milk prices were higher with April Class III milk futures gaining 4 cents to close at $15.23 per cwt.

Stock markets closed lower today, marking two consecutive weeks of declines, losses came as investors sold off industrial and financial shares and bought up safe haven assets. May Crude oil futures were 7 cents higher, closing at $53.18 per barrel. Crude oil prices continued to rise for the second consecutive week as investors are wrestling with rising U.S production and the prospect of the extending of OPEC production cutting agreement.

This week’s U.S. Drought Monitor for Texas showed improving drought conditions for the state, with 15.26 percent of Texas still in some stage of drought intensity, down 2.25 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with 26.99 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 2.74 percentage points from last week.

DailyMarket News Summary Data 04/13/17

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Agriculture market news summary, cattle auctions, cotton prices, feeder cattle prices, market news, TDA

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