Daily Market News Summary 9/09/15

Posted 9 years 81 days ago by

Feeder cattle futures lower.

Fed cattle cash lower; formula trades higher; futures lower; beef prices higher.

Cotton higher.

Grains and soybeans mixed.

Crude oil lower; natural gas lower.

Stock markets lower.

Feeder cattle futures closed $0.47 lower at $203.83 per hundredweight (cwt). The Texas fed cattle cash trade closed $3.00 lower at $140.00. Wholesale boxed beef values were higher, with Choice grade gaining $0.30 and Select grade gaining $0.05, settling at $239.46 per cwt and $228.70 per cwt, respectively. Estimated cattle harvest through Wednesday totaled 230,000 head, down 98,000 from last week and down 114,000 from a year ago. Year-to-date harvest is down 33%. Fed cattle futures were $0.50 lower than the previous day’s prices closing at $142.98 per cwt.

Cotton prices were higher yesterday, with cash prices gaining 0.50 cents and futures prices gaining 0.23 cents, settling at 60.13 cents per pound and 63.52 cents per pound, respectively.

Corn prices were higher, with cash prices gaining $0.01 and futures prices gaining $0.02, closing at $3.82 per bushel and $3.57 per bushel, respectively. Grain sorghum cash prices dropped $0.07 to settle at $5.83 per cwt. Soybean futures prices closed $0.08 lower, settling at $8.83 per bushel.

Wheat prices were lower yesterday with cash and futures prices both dropping $0.04 to close at $3.92 per bushel and $4.48 per bushel, respectively.

Stock markets closed lower yesterday, as investors continue to wrestle with the proposed increase in interest rates along with the slowing of Chinese economic growth. Crude oil prices dropped $1.79 to close at $44.15 per barrel.

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Daily Market News Summary Data 9/09/15