Feb 24 2015

Texas Daily Ag Market Summary 2/24/15 Posted 9 years 278 days ago by

Due to inclement weather in Austin, TDA apologizes for the brevity and late delivery of today’s report.

• ·         Feeder cattle mostly steady to $3 higher; futures lower.
• ·         Fed cattle cash trade inactive; formula trades lower; futures lower; beef prices higher.
• ·         Cotton mixed.
• ·         Grains lower; soybeans unchanged.
• ·         Crude oil lower; natural gas lower.
• ·         Stock markets mostly lower.

Texas feeder cattle auctions quoted prices mostly steady to $3 higher, with one location reporting solid sales with instances of $16 higher. Feeder cattle futures were lower. The Texas fed cattle cash market had no reportable trade for Monday. Wholesale boxed beef values were higher, with Choice Grade at $241.08 and Select Grade at $239.38. Estimated cattle harvest for the week totaled 104,000 head, up 5K from the previous week’s holiday-shortened total, and up 6K from a year ago. Year-to-date harvest is up 6.1%. Fed cattle futures were lower.

Cotton prices were mixed, with cash lower and futures slightly higher. Corn and grain sorghum prices were lower, and soybean futures prices were unchanged while soybean meal futures gained $0.80 to $348.30 per ton. Wheat prices were slightly lower.

Stock markets were mostly lower, with only NASDAQ closing with a slight gain. Crude oil prices dropped below $50 per barrel again to close at $49.45.


Daily Market Summary Data for 2/24/2015


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Disclaimer: The information compiled in the Daily Market Summary is obtained from a variety of sources, including those available on the Internet, that are believed to be reliable and accurate, but are in no way guaranteed. This information is intended to provide only a summary of market trends and a daily snapshot of agricultural markets and economic indicators. It should not be relied upon as a sole source of market information. Commentary is the author’s alone and does not in any way convey official TDA policies.