Texas Daily Ag Market News Summary 7/08/15

Posted 9 years 143 days ago by

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

Texas feeder cattle auctions reported prices steady to $3 lower. Feeder cattle futures closed $0.15 higher at $217.13 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were lower, with Choice grade dropping to $244.67 per cwt and Select grade closing lower at $241.09 per cwt. Estimated cattle harvest to date this week totaled 214,000 head, down 13,000 from last week and 13,000 from a year ago. Year-to-date harvest is down 5.7%. Fed cattle futures settled $0.58 higher at $151.08 per cwt.

Cotton prices were lower on Tuesday with cash losing 1.00 cent, settling at 61.88 cents per pound and futures losing 0.90 cents, settling at 65.53 cents per pound.

Corn and grain sorghum prices were lower, with corn cash and futures prices settling at $4.45 per bushel and $4.16 per bushel, respectively. Grain sorghum prices closed $0.05 lower at $7.74 per cwt. Soybean futures prices were $0.32 lower, closing at $10.02 per bushel.

Wheat cash and futures prices both lost $0.05, settling at $5.33 per bushel and $5.71 per bushel, respectively.

Stock markets closed higher yesterday, as initial heavy losses rebounded in one of the largest intraday reversals in years. Crude oil prices lost $0.20 to close at $52.33 per barrel, continuing a slide to a new three-month low.

Daily Market Summary Data for 7/08/2015

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