Texas Daily Ag Market News Summary 6/03/15

Posted 9 years 178 days ago by

Few feeder cattle steady to $2 higher; futures lower.
Fed cattle cash trade inactive; formula trades lower; futures higher; beef prices sharply lower.
Cotton lower.
Grains and soybeans higher.
Crude oil higher; natural gas higher.
Stock markets lower.

Texas feeder cattle auctions reported prices steady to $2 higher. Feeder cattle futures closed $0.22 lower at $223.33 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were lower, with Choice grade falling to $254.28 per cwt and Select grade lower to $244.62 per cwt. Estimated cattle harvest to date this week totaled 228,000 head, up 111,000 from last week, but down 6,000 from a year ago. Year-to-date harvest is down 2.6%. Fed cattle futures settled $0.15 higher at $153.30 per cwt.

Cotton prices were lower on Tuesday with cash settling 0.25 cents lower at 61.63 cents per pound and futures falling 0.15 cents to settle at 63.60 cents per pound.

Corn and grain sorghum prices were higher with corn cash prices settling at $3.88 per bushel and futures at $3.59 per bushel. Grain sorghum prices closed $0.12 higher at $6.77 per cwt. Soybean prices were $0.15 higher at $9.41 per bushel.

Wheat cash prices settled $0.21 higher at $4.90 per bushel and futures prices $0.22 higher to close at $5.36 per bushel.

Stock markets closed lower yesterday, as investors continued to wait for news on Greece’s debt negotiations. Crude oil prices gained $1.06 to settle at $61.26 per barrel, gaining support from a weaker dollar and continued U.S. crude production declines.

Daily Market Summary Data for 6/03/2015

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