Texas Daily Ag Market News Summary 8/05/15

Posted 9 years 115 days ago by

Feeder cattle steady to $5 higher; futures higher.
Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices lower.
Cotton lower.
Grains and soybeans mixed.
Crude oil higher; natural gas higher.
Stock markets lower.

Texas feeder cattle auctions reported prices steady to $5 higher. Feeder cattle futures closed $0.10 higher at $213.95 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were lower, with Choice grade dropping to $233.48 per cwt and Select grade closing lower at $228.17 per cwt. Estimated cattle harvest to date this week totaled 219,000 head, up 4,000 from last week and down 5,000 from a year ago. Year-to-date harvest is down 2.2%. Fed cattle futures settled $0.23 higher at $148.23 per cwt.

Cotton prices were lower on Tuesday, with cash prices dropping 0.50 cents to settle at 60.13 cents per pound. Futures prices dropped 0.45 cents to settle at 64.91 cents per pound.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.01 and futures prices gaining $0.02, settling at $3.94 per bushel and $3.69 per bushel, respectively. Grain sorghum prices closed $0.05 higher at $6.72 per cwt. Soybean futures prices were $0.02 lower, closing at $9.76 per bushel.

Wheat cash prices lost $0.05 and futures prices lost $0.04 to settle at $4.30 per bushel and $4.85 per bushel, respectively.

Stock markets closed lower yesterday, amid renewed speculation that the Federal Reserve may raise interest rates. Crude oil prices gained $0.57 to close at $45.74 per barrel, reflecting expectations of a drop in domestic crude supplies.

Daily Market Summary Data for 8/05/2015

If you are interested in receiving this daily report, please subscribe here.