Texas Daily Ag Market News Summary 4/29/15

Posted 9 years 213 days ago by

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

The Texas fed cattle cash trade was inactive on Tuesday. Wholesale boxed beef values were mixed, with Choice grade up to $257.72 per hundredweight (cwt) and Select grade steady with the previous day’s price of $247.98 per cwt. Estimated cattle harvest to date this week totaled 220,000 head, on par with last week, but down 15,000 from a year ago. Year-to-date harvest is down 6.4%. Fed cattle futures were higher, buoyed by strong cash prices.

Cotton prices were steady to higher on Tuesday with cash falling remaining at 64.13 cents per pound and futures rising 0.23 cents to settle at 66.62 cents per pound.

Corn and grain sorghum prices were steady to higher with corn cash closing $0.02 higher at $3.86 per bushel and futures closing at the previous day’s settling price of $3.61 per bushel. Grain sorghum prices closed $0.11 higher at $6.81 per cwt. Soybean prices were $0.05 higher at $9.78 per bushel.

Wheat cash and futures prices gained $0.03 and $0.06, respectively to close at $4.57 per bushel and $4.97 per bushel, respectively.

Stock markets closed higher yesterday, with positive earnings reports on the minds of traders and investors. Crude oil prices rose $0.070 to settle at $57.06 per barrel. The U.S. crude supply at Cushing, Oklahoma declined for the first time in 2015, but inventories grew over the past week in the in the U.S. as a whole.

Daily Market Summary Data for 4/29/2015

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