Texas Daily Ag Market News Summary 6/29/15

Posted 8 years 309 days ago by

Feeder cattle mostly steady with instances ranging from $5 lower to $2 higher; futures lower.
Fed cattle cash trade reporting after inactivity; futures lower; beef prices lower.
Cotton higher.
Grains and soybeans mostly higher.
Crude oil lower; natural gas lower.
Stock markets mixed.

Texas feeder cattle auctions quoted prices mostly steady with instances ranging from $5 lower to $2 higher. Feeder cattle futures closed $1.80 lower at $217.25 per hundredweight (cwt). The Texas fed cattle cash trade reported a price of $148.00 after one week of inactivity. Wholesale boxed beef values were lower, with Choice grade closing $2.04 lower at $253.12 per cwt and Select grade $1.98 lower at $248.15 per cwt. Estimated cattle harvest for the week totaled 555,000 head, up 6K from the previous week and down 59K from a year ago. Year-to-date harvest is down 9.6%. Fed cattle futures closed $0.10 lower at $148.40 per cwt.

Cotton cash prices closed 2.50 cents higher at 63.38 cents per pound. Futures settled 2.28 cents higher at 67.16 cents per pound.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.12 and futures prices gaining $0.07, closing at $4.14 and $3.85 respectively. Grain sorghum cash prices closed $0.21 higher to settle at $7.21 per cwt. Soybean futures prices closed $0.02 higher, settling at $10.02 per bushel.

Wheat cash prices closed $0.22 higher and futures prices closed $0.24 higher, settling at $5.12 per bushel and $5.59 per bushel, respectively.

Stock markets were mixed on Friday, as a boost in the Dow Jones coincided with a drop in the technology sector. Crude oil prices closed $0.07 lower at $59.63 per barrel, as expectations for an increase in summer demand tempered concerns over Greece’s bailout talks.

Daily Market Summary Data for 6/29/2015

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