Texas Daily Ag Market News Summary 9/17/15

Posted 9 years 73 days ago by

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

Texas feeder cattle auctions reported prices $3 to $10 lower per hundredweight. One location did report prices as much as $20 lower. Feeder cattle futures closed $0.91 lower at $193.20 per hundredweight (cwt). The Texas fed cattle cash trade was active yesterday with prices closing at $136.00 . Wholesale boxed beef values were lower, with Choice grade dropping $2.91 to $230.50 per cwt and Select grade dropping $3.33 to $221.70 per cwt. Estimated cattle harvest to date this week totaled 449,000 head, up 105,000 from last week and down 8,000 from a year ago. Year-to-date harvest is down 1.7%. Fed cattle futures settled $0.75 lower at $136.85 per cwt.

Cotton cash prices were steady staying at 59.37 cents per bushel, futures prices lost 1.00 cent to settle at 61.38 cents per pound.

Corn and grain sorghum prices were lower, with corn cash prices losing $0.07 and futures prices losing $0.06 to settle at $3.91 and $3.80 per bushel, respectively. Grain sorghum prices closed $0.11 lower at $5.98 per cwt. Soybean futures prices were $0.02 lower, closing at $8.85 per bushel.

Wheat cash prices settled $0.07 lower at $3.98 per bushel and futures prices settled $0.05 lower to close at $4.82 per bushel.

Stock markets closed lower today erasing gains from yesterday after interest rates remained unchanged. Crude oil prices lost $0.25 to close at $46.90 per barrel.

This week’s U.S. Drought Monitor for Texas showed worsening of drought conditions for the state, with only about 51.23% of Texas still in some stage of drought intensity, up 3.8 percentage points from last week. Additionally, 10.46% of the state remains in severe, extreme, or exceptional drought, down 2.77 percentage points from three months ago. On the national level, drought conditions worsened slightly, with 51.55% of the U.S. experiencing abnormal dryness or some degree of drought, up 1.18 percentage points from last week.

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Daily Market Summary Data 9/17/15