Texas Daily Ag Market News Summary 7/01/15

Posted 9 years 150 days ago by

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

Texas feeder cattle auctions reported prices steady to $3 lower. Feeder cattle futures closed $4.35 lower at $214.73 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were mixed, with Choice grade dropping to $252.05 per cwt and Select grade closing higher at $249.35 per cwt. Estimated cattle harvest to date this week totaled 227,000 head, up 6,000 from last week and down 7,000 from a year ago. Year-to-date harvest is down 2.99%. Fed cattle futures settled $1.83 lower at $147.85 per cwt.

Cotton prices were higher on Tuesday with cash rising 0.50 cents, settling at 64.13 cents per pound and futures rising 0.71 cents, settling at 67.51 cents per pound.

Corn and grain sorghum prices were higher, with corn cash and futures prices settling at $4.43 per bushel and $4.14 per bushel, respectively. Grain sorghum prices closed $0.53 higher at $7.72 per cwt. Soybean futures prices were $0.53 higher, closing at $10.56 per bushel.

Wheat cash prices settled $0.25 higher at $5.51 per bushel and futures prices settled $0.21 higher to close at $5.93 per bushel.

Stock markets closed higher yesterday, as investors watched last-minute negotiations on the Greek bailout deal stretch well beyond U.S. markets closing. Ultimately, the talks proved futile, as the announcement was made that Greece was in arrears. Crude oil prices gained $1.14 to close at $59.47 per barrel, as the deadline for nuclear talks concerning Iran was further postponed.

Daily Market Summary Data for 7/01/2015

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