Texas Daily Ag Market News Summary 10/28/15

Posted 9 years 32 days ago by

Feeder cattle auction quoted steady prices with instances of $3-10 higher; futures higher.

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

Cotton higher.

Grains and soybeans lower.

Crude oil higher; natural gas lower.

Stock markets higher.

Texas feeder cattle auctions quoted steady prices, with instances of $3 to $10 higher. Feeder cattle futures were $0.90 higher, closing at $193.50 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were higher, with Choice grade gaining $5.19 and Select grade gaining $1.13 settling at $223.14 and $212.20 per cwt, respectively. Estimated cattle harvest for the week totaled 332,000 head, down 5,000 from last week’s total and up 2,000 from a year ago. Fed cattle futures were $3.00 lower, closing at $139.67 per cwt.

Cotton prices were higher with cash prices gaining 0.25 cents, closing at 61.12 cents per pound. Futures prices gained 0.33 cents settling 62.67 cents per pound. The USDA NASS Field office reported that widespread rain delayed cotton harvest in the Plains. Some cotton fields in areas of the Trans-Pecos suffered damaged due to hail storms, while in areas of the Southern Low Plains cotton producers sprayed fields with boll opener and desiccants. Cotton harvest is currently at 37 percent, 8 points above previous year, and 3 points above normal.

Corn and grain sorghum prices were lower, with corn cash and futures prices both losing $0.04, settling at $3.86 and $3.76 per bushel, respectively. Grain Sorghum cash prices lost $0.07, settling at $5.91 per cwt. The USDA NASS Field Office reported that corn and sorghum continued to progress across areas of the Northern High Plains, but harvest was delayed in many areas due to rainfall. Corn harvest is currently at 77 percent, 13 points behind normal.

Wheat prices were lower with cash and futures prices both losing $0.02, settling at $4.04 and $4.86 per bushel, respectively. Soybean futures prices lost $0.09 settling at $8.82 per bushel. The USDA NASS Field Office reported that winter wheat and oat seeding continued, with some delays being experienced in areas of the Northern High Plains, Southern Low Plains, Cross Timbers, and the Blacklands due to past weeks rains. Recent moisture contributed to the continued development of wheat and oats.

Stock markets closed higher today. The markets were raised by financial and energy shares, after the Federal Reserve left interest rates near zero. Crude oil prices closed $2.74 higher today, settling at $45.94 per barrel.

Daily Market Summary Data 10/28/15

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