Texas Daily Ag Market News Summary 8/19/15

Posted 9 years 102 days ago by

Feeder cattle steady to $5 higher with instances of $2 lower; futures higher.
Fed cattle cash trade inactive; formula trades higher; futures lower; beef prices lower.
Cotton cash prices higher, futures lower.
Grain cash prices mixed, futures lower; soybeans lower.
Crude oil higher; natural gas lower.
Stock markets lower.

Texas feeder cattle auctions reported prices steady to $5 higher with instances of $2 lower. Feeder cattle futures closed $0.15 higher at $214.55 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were lower, with Choice grade losing $0.44 to close at $245.08 per cwt and Select grade losing $0.14 to close at $236.25 per cwt. Estimated cattle harvest to date this week totaled 215,000 head, down 4,000 from last week and down 8,000 from a year ago. Year-to-date harvest is down 3.6%. Fed cattle futures settled $0.70 lower at $147.20 per cwt.

Cotton prices were mixed on Tuesday with cash rising 1.00 cents, settling at 62.13 cents per pound and futures dropping 0.05 cents, settling at 67.93 cents per pound.

Corn and grain sorghum prices were mixed, with corn cash and futures prices gaining $0.02 and $0.03, to settle at $3.91 per bushel and $3.66 per bushel, respectively. Grain sorghum prices closed $0.05 higher at $6.45 per cwt. Soybean futures prices were $0.14 lower, closing at $9.13 per bushel.

Wheat cash and futures prices were both $0.06 lower settling at $4.19 per bushel and $4.76 per bushel, respectively.

Stock markets closed lower yesterday, as investors prepared for an increase in interest rates as early as September. Crude oil prices gained $0.75 to close at $42.62 per barrel, as buyers outweighed the pressure from Chinese economic concerns and the strong supply that have driven prices down.

Daily Market Summary Data for 8/19/2015

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