Texas Daily Ag Market News Summary 6/25/15

Posted 8 years 313 days ago by

Feeder cattle steady, with instances of $3 lower to $3 higher; futures lower.
Fed cattle cash trade inactive on Wednesday; formula trades lower; futures lower; beef prices higher.
Cotton mixed.
Grains and soybeans mostly lower.
Crude oil lower; natural gas higher.
Stock markets lower.

Texas feeder cattle auctions quoted prices steady, with instances of $3 lower to $3 higher. Feeder cattle futures closed $1.80 lower at $223.55 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher, with Choice grade gaining $1.99 and Select grade gaining $2.40, settling at $256.12 per cwt and $250.39 per cwt, respectively. Estimated cattle harvest through Wednesday totaled 325,000 head, up 5K from last week and down 22K from a year ago. Year-to-date harvest is down 6.3%. Fed cattle futures were $1.32 lower than the previous day’s prices.

Cotton cash prices closed 0.50 cents lower than the previous day’s prices. Futures prices were 0.18 cents higher, settling at 63.76 cents per pound.

Corn and grain sorghum prices were slightly lower, with corn cash and futures prices both losing $0.01, closing at $3.92 per bushel and $3.67 per bushel, respectively. Grain sorghum cash prices dropped $0.02 to settle at $6.82 per cwt. Soybean futures prices closed $0.06 lower, settling at $9.82 per bushel.

Wheat cash closed $0.05 lower to settle at $4.83 per bushel and futures also lost $0.05, closing at $5.25 per bushel.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with only about 4.63% of Texas still in some stage of drought intensity, down 2.17 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought, down 24.92 percentage points from three months ago. On the national level, drought conditions worsened slightly, with almost 40.12% of the U.S. experiencing abnormal dryness or some degree of drought, up 0.51 percentage points from last week.

Stock markets closed lower yesterday, reflecting a drop in confidence concerning a bailout deal for Greece. Crude oil prices lost $0.74 to close at $60.27 per barrel, as data revealed that crude oil supplies have recently dropped.

Daily Market Summary Data for 6/25/2015

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