Texas Daily Ag Market News Summary 8/26/15

• Feeder cattle $7 to $10 lower; futures higher.
• Fed cattle cash trade inactive; formula trades higher; futures lower; beef prices lower.
• Cotton cash steady; futures lower.
• Grains and soybeans mixed.
• Crude oil higher; natural gas higher.
• Stock markets lower.

Texas feeder cattle auctions reported prices $7 to $10 lower. Feeder cattle futures closed $0.07 higher at $210.90 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. Wholesale boxed beef values were lower, with Choice grade losing $0.45 and Select grade losing $0.18 to close at $243.86 per cwt and $233.80 per cwt, respectively. Estimated cattle harvest to date this week totaled 218,000 head, down 3,000 from last week and down 13,000 from a year ago. Year-to-date harvest is down 5.6%. Fed cattle futures settled $0.17 lower at $143.68 per cwt.

Cotton prices were mixed on Tuesday with cash prices unchanged, at 58.88 cents per pound and futures dropping 0.88 cents, settling at 63.76 cents per pound.

Corn and grain sorghum prices were mixed, with corn cash losing $0.04 and futures prices losing $0.03, to settle at $3.85 per bushel and $3.66 per bushel, respectively. Grain sorghum prices closed $0.44 higher at $6.85 per cwt. Soybean futures prices were $0.01 higher, closing at $8.94 per bushel.

Wheat cash prices were $0.09 lower and futures prices were $0.10 lower settling at $4.09 per bushel and $4.66 per bushel, respectively.

Stock markets closed lower yesterday, as actions by China to steady its economy did little to alleviate investor concerns. Crude oil prices gained $1.07 to close at $39.31 per barrel, prices received some temporary help from China’s attempts to fix its economy along with an initial decline in U.S. oil inventories.

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