Texas Daily Ag Market News Summary 08/03/17

Posted 6 years 259 days ago by

Feeder cattle auctions mixed; Futures higher.

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

Cotton futures lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions were mixed, reporting prices steady to $5 higher with instances of up to $2 lower. August Feeder cattle futures were 40 cents higher, closing at $150.65 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. August Fed cattle futures were 70 cents higher closing at $115.22 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining a dime to close at $205.16 per cwt and Select grade gaining 36 cents to close at $197.78 per cwt. Estimated cattle harvest for the week totaled 465,000 down 2,000 from last week’s total and up 18,000 from a year ago. Year-to-date harvest is up 4.1%.

Cotton prices were mixed with cash prices remaining at 69.25 cents per pound and October futures losing 0.20 cents to close at 71.55 cents per pound.

Corn prices were mixed with cash prices remaining at $3.64 per bushel and September futures losing a penny to close at $3.64 per bushel. Grain Sorghum cash prices were a penny lower, closing at $5.42 per bushel.

Wheat prices were lower with cash prices losing 6 cents to close at $3.64 per bushel and September futures losing an nickel to close at $4.60 per bushel.

Milk prices were lower with August Class III losing 7 cents to close at $16.42 per cwt.

Stock markets were mostly lower today, but the Dow Jones kept its winning streak alive behind strong corporate earnings reports and a strong global economy. September Crude oil futures were 56 cents lower, closing at $49.03 per barrel.

This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 26.52 percent of Texas still in some stage of drought intensity, up 1.56 percentage points from last week. Additionally, 0.73 percent of the state remains in severe, extreme, or exceptional drought, up 0.73 percentage points from three months ago. On the national level, drought conditions improved slightly, with 30.52 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 2.17 percentage points from last week.

Daily Market News Summary Data 08/03/17

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