Texas Daily Ag Market News Summary 05/10/17

Posted 1 years 45 days ago ago by Nathan Matt

  • Feeder cattle auction reported uneven prices; Futures lower.
  • Fed cattle cash trade inactive; Formula trades higher; Futures lower; Beef prices steady.
  • Cotton futures lower.
  • Grains and soybeans uneven.
  • Milk futures higher.
  • Crude oil higher; Natural gas higher.
  • Stock markets mostly higher.

Texas feeder cattle auctions reported mixed prices, with some auctions steady, some $2 lower and some $9 higher. May Feeder cattle futures were 3 cents lower, to close at $144.50 per hundredweight (cwt). The Texas fed cattle cash was inactive today. June Fed cattle futures were 78 cents lower, closing at $124.20 per cwt. Wholesale boxed beef values were steady, with Choice grade closing at $242.16 per cwt and Select grade closing at $223.03 per cwt. Estimated cattle harvest for the week totaled 345,000 up 10,000 from both last week’s total and from a year ago. Year-to-date harvest is up 3%.

Cotton prices were down with cash prices losing 50 cents to close at 72.75 cents per pound and July futures dropping 0.94 cents to close at 76.49 cents per pound.

Corn prices were up with cash prices gaining a penny to close at $3.67 per bushel and May futures gaining 7 cents to close at $3.65 per bushel. Grain Sorghum cash prices were steady, to close at $5.39 per cwt.

Wheat prices were steady with cash prices closing at $3.70 per bushel and May futures gaining a penny to close at $4.28 per bushel.

Milk prices were higher with May Class III Milk futures gaining 3 cents to close at $15.55 per cwt.

Stock markets closed with mixed results today. The Dow-Jones Average dropped 32 points to close at 20,943, while the S&P 500, NASDAQ and Dow-Jones Total Market all gaining. June Crude oil futures were $1.45 higher, closing at $47.33 per barrel.

Daily Market News Summary Data 05/10/17

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