Texas Daily Ag Market News Summary 5/06/15

Posted 9 years 206 days ago by

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

The Texas fed cattle cash trade was inactive on Tuesday. Wholesale boxed beef values were higher, with Choice grade down to $255.56 per hundredweight (cwt) and Select grade down to $243.60 per cwt. Estimated cattle harvest to date this week totaled 227,000 head, up 7,000 from last week, but down 11,000 from a year ago. Year-to-date harvest is down 4.6%. Fed cattle futures settled $0.72 higher at $151.45.

Cotton prices were steady to higher on Tuesday with cash remaining at 63.13 cents per pound and futures rising 0.08 cents to settle at 66.99 cents per pound.

Corn and grain sorghum prices were higher with corn cash and futures each closing $0.02 higher at $3.88 per bushel and $3.61 per bushel, respectively. Grain sorghum prices closed $0.03 higher at $6.84 per cwt. Soybean prices were $0.11 higher at $9.94 per bushel.

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

Stock markets closed lower yesterday, with traders blaming losses, in part, on Friday’s upcoming U.S. jobs report. Crude oil prices rose $1.470 to settle at $60.40 per barrel. Factors influencing the rise include a blocked Libyan seaport and an increase of the official Saudi oil prices in the U.S. and European markets.

Daily Market Summary Data for 5/06/2015

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