Texas Daily Ag Market News Summary 7/29/15

Posted 9 years 122 days ago by

Feeder cattle $3 to $10 lower; futures higher.
Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices lower.
Cotton mixed.
Grains and soybeans higher.
Crude oil higher; natural gas higher.
Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $10 lower. Feeder cattle futures closed $2.50 higher at $211.25 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were lower, with Choice grade dropping to $232.15 per cwt and Select grade closing lower at $228.87 per cwt. Estimated cattle harvest to date this week totaled 215,000 head, down 8,000 from last week and down 7,000 from a year ago. Year-to-date harvest is down 3.2%. Fed cattle futures settled $2.02 higher at $145.05 per cwt.

Cotton prices were mixed on Tuesday, with cash prices remaining at 59.88 cents per pound and futures prices gaining 0.07 cents, settling at 64.38 cents per pound.

Corn and grain sorghum prices were mostly higher, with corn cash prices remaining at $3.98 per bushel and futures prices gaining $0.02, settling at $3.75 per bushel. Grain sorghum prices closed $0.04 higher at $6.88 per cwt. Soybean futures prices were $0.14 higher, closing at $9.75 per bushel.

Wheat cash prices gained $0.05 and futures prices gained $0.06 to settle at $4.50 per bushel and $5.05 per bushel, respectively.

Stock markets closed higher yesterday, reversing Monday’s losses. Crude oil prices gained $0.59 to close at $47.98 per barrel.

Daily Market Summary Data for 7/29/2015

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