Texas Daily Ag Market Summary 3/3/15

Posted 9 years 270 days ago by

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

Texas feeder cattle auctions quoted prices mostly steady to $3 higher, with noticeable activity. Feeder cattle futures were lower with ready numbers generally equal to last week in feedlot country. The Texas fed cattle cash market had no reportable trade for Monday. Wholesale boxed beef values were mixed, with Choice Grade at $248.67 and Select Grade at $245.45. Estimated cattle harvest for the week totaled 109,000 head, up 10K from the previous week’s total, but down 4K from a year ago. Year-to-date harvest is down 3.5%. Fed cattle futures were lower.

Cotton prices were mixed, with cash consistent and futures slightly lower. Corn and grain sorghum prices were mixed, and soybean futures prices were slightly lower while soybean meal futures fell $9.40 to $344.30 per ton. Wheat prices were slightly lower. The USDA NASS Texas field office reported that winter wheat condition throughout the state was rated fair to good, noting increased moisture in areas of the High Plains. The percentage of corn planted is up two points from the previous week.

Stock markets were mostly higher, with only S&P GSCI GFI Futures Index closing with a loss. NASDAQ closed above 5,000 for the first time since March 27, 2000. Crude oil prices slipped further below $50 per barrel to close at $49.59.

Daily Market Summary Data for 3/3/2015

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