Texas Daily Ag Market News Summary 10/20/15

Posted 9 years 40 days ago by

Feeder cattle auction quoted prices $3 to $12 higher; futures lower.

Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices higher.

Cotton higher.

Grains and soybeans higher.

Crude oil lower; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions quoted prices $3 to $12 higher. Feeder cattle futures were $0.13 lower, closing at $194.87 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher, with Choice grade gaining $1.74 and Select grade gaining $2.63 settling at $215.38 and $210.36 per cwt, respectively. Estimated cattle harvest for the week totaled 225,000 head, up 1,000 from last week’s total, but down 5,000 from a year ago. Year-to-date harvest is down 2%. Fed cattle futures were $1.98 higher, closing at $140.25 per cwt.

Cotton prices were higher with cash prices gaining 0.51 cents to settle at 61.63 cents per pound and futures prices gaining 0.54 cents settling 63.78 cents per pound. The USDA NASS Field Office reported that Producers were harvesting cotton in areas of the Plains, the Edwards Plateau, the Coastal Bend, and South Texas, while in areas of the Trans-Pecos cotton producers applied defoliants in preparation for harvest. Cotton harvest is currently at 28 percent, 6 points above previous year, and 3 points above normal.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.05 and futures gaining $0.04 settling at $3.87 and $3.77 per bushel, respectively. Grain sorghum prices gained $0.08 to settle at $5.93 per cwt. The USDA NASS Field Office reported that Corn and sorghum harvest continued to progress across areas of the Northern Plains. Corn harvest is currently at 75 percent, 9 points behind normal.

Wheat prices were higher with cash prices gaining $0.06 and futures prices gaining $0.05, settling at $3.96 and $4.77 per bushel, respectively. The USDA NASS Field Office reported that Winter Wheat and oat seeding continued across the state as early-sown wheat emerged in areas of the Northern High Plains. Wheat fields suffered damage due to dry conditions and insects in some areas of the Cross Timbers.

Stock markets closed lower yesterday, due to a subpar earnings report and a selloff of health-care shares. Crude oil prices closed $0.34 lower yesterday, settling at $45.55 per barrel.

Daily Market News Summary Data 10/20/15

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