Texas Daily Ag Market News Summary 5/13/15

Posted 9 years 199 days ago by

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

The Texas fed cattle cash trade was inactive on Tuesday. Wholesale boxed beef values were mixed, with Choice grade up to $260.96 per hundredweight (cwt) and Select grade down to $247.75 per cwt. Estimated cattle harvest to date this week totaled 227,000 head, on par with last week, but down 8,000 from a year ago. Year-to-date harvest is down 3.4%. Fed cattle futures settled $1.23 higher at $151.48 per cwt.

Cotton prices were lower on Tuesday with cash falling to 62.13 cents per pound and futures falling 0.37 cents to settle at 65.02 cents per pound.

Corn and grain sorghum prices were mixed with corn cash staying steady and futures closing $0.01 lower at $3.57 per bushel. Grain sorghum prices closed $0.10 higher at $6.90 per cwt. Soybean prices were $0.16 lower at $9.67 per bushel.

Wheat cash and futures prices each lost $0.02 to close at $4.63 and $5.08 per bushel, respectively.

Stock markets closed lower yesterday, as traders reacted to a selloff in European markets. Crude oil prices rose $1.500 to settle at $60.75 per barrel, boosted by weaker dollar prices and rising oil-demand outlooks.

Daily Market Summary Data for 5/13/2015

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