Texas Daily Ag Market News Summary 6/10/15

Posted 9 years 171 days ago by

Feeder cattle mostly steady, with instances of $8 lower to $5 higher; futures higher.
Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices sharply higher.
Cotton steady to lower.
Grains and soybeans mostly higher.
Crude oil higher; natural gas higher.
Stock markets little changed.

Texas feeder cattle auctions reported prices steady, with instances of $8 lower to $5 higher. Feeder cattle futures closed $1.38 higher at $224.23 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were sharply higher, with Choice grade rising to $247.20 per cwt and Select grade closing lower at $240.75 per cwt. Estimated cattle harvest to date this week totaled 224,000 head, on par with last week, but down 5,000 from a year ago. Year-to-date harvest is down 2.2%. Fed cattle futures settled $1.60 higher at $155.08 per cwt.

Cotton prices were steady to lower on Tuesday with cash settling on par with the previous day’s prices at 63.13 cents per pound and futures falling 0.25 cents to settle at 64.55 cents per pound.

Corn and grain sorghum prices were steady to lower with corn cash and futures prices settling on par with the previous day’s prices at $3.90 per bushel and $3.65 per bushel, respectively. Grain sorghum prices closed $0.01 lower at $6.88 per cwt. Soybean prices were $0.08 higher at $9.52 per bushel.

Wheat cash prices settled $0.54 higher at $5.53 per bushel and futures prices $0.03 higher to close at $5.48 per bushel.

Stock markets closed little changed yesterday, as stock volumes continued to be low and muted. Crude oil prices gained $2.00 to settle at $60.14 per barrel, gaining support from expectations that global oil reserves are shrinking.

Daily Market Summary Data for 6/10/2015

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