2015

Posted 8 years 325 days ago by

Feeder cattle steady to $2 higher, with instances of $6 lower to $10 higher; futures lower.

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

Texas feeder cattle auctions quoted prices steady to $2 higher, with instances of $6 lower to $10 higher. Feeder cattle futures closed $0.12 lower at $224.73 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher, with Choice grade gaining $0.93 and Select grade gaining $1.82, settling at $250.40 per cwt and $244.38 per cwt, respectively. Estimated cattle harvest through Wednesday totaled 320,000 head, up 5K from last week and down 25K from a year ago. Year-to-date harvest is down 7.2%. Fed cattle futures were $0.10 lower than the previous day’s prices.

Cotton cash prices closed 0.50 cents lower than the previous day’s prices. Futures prices were 0.27 cents lower, settling at 64.16 cents per pound.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.05 and futures prices gaining $0.05, closing at $3.84 per bushel and $3.59 per bushel, respectively. Grain sorghum cash prices gained $0.09 to settle at $6.77 per cwt. Soybeans closed $0.11 higher, settling at $9.69 per bushel.

Wheat cash closed $0.01 lower to settle at $4.61 per bushel and futures lost $0.01 to close at $5.06 per bushel.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with only about 6.8% of Texas still in some stage of drought intensity, down 12 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought, down 1.13 percentage points from last week and 49.74 percentage points from three months ago. On the national level, drought conditions improved slightly, with almost 39.61% of the U.S. experiencing abnormal dryness or some degree of drought, down 0.46 percentage points from last week.

Stock markets closed higher yesterday after the Federal Reserve indicated that interest rates may increase slower than was initially expected. Crude oil prices were $0.050 lower, settling at $59.92 per barrel, after U.S. stockpile data had not dropped as low as was anticipated.

Daily Market Summary Data for 6/18/2015

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