Texas Daily Ag Market News Summary 6/24/15

Posted 9 years 157 days ago by

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

Texas feeder cattle auctions reported prices steady to $2 higher. Feeder cattle futures closed $0.43 lower at $225.35 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were mixed, with Choice grade rising to $254.13 per cwt and Select grade closing slightly lower at $247.99 per cwt. Estimated cattle harvest to date this week totaled 221,000 head, down 3,000 from last week and 9,000 from a year ago. Year-to-date harvest is down 3.9%. Fed cattle futures settled $0.45 lower at $152.00 per cwt.

Cotton prices were lower on Tuesday with cash dropping 0.50 cents, settling at 62.13 cents per pound and futures dropping 0.45 cents, settling at 63.58 cents per pound.

Corn and grain sorghum prices were higher with corn cash and futures prices settling at $3.93 per bushel and $3.68 per bushel, respectively. Grain sorghum prices closed $0.14 higher at $6.84 per cwt. Soybean futures prices were $0.02 lower, closing at $9.88 per bushel.

Wheat cash prices settled $0.21 higher at $4.88 per bushel and futures prices $0.18 higher to close at $5.30 per bushel.

Stock markets closed higher yesterday amid hopes that Greece may soon reach a bailout deal with creditors. Crude oil prices gained $1.33 to close at $61.01 per barrel, as investors anticipated a drop in market supplies.

Daily Market Summary Data for 6/24/2015

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