Texas Daily Ag Market News Summary 10/29/15

Posted 9 years 31 days ago by

Feeder cattle auction quoted prices $1 to $10 higher; futures lower.

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

Cotton lower.

Grains and soybeans mixed.

Crude oil higher; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions quoted prices of $1 to $10 higher. Feeder cattle futures were $0.35 lower, closing at $193.15 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were mixed, with Choice grade gaining $0.79 and Select grade dropping $0.65 settling at $220.93 and $211.55 per cwt, respectively. Estimated cattle harvest for the week totaled 439,000 head, down 5,000 from last week’s total, and on par with a year ago. Fed cattle futures were $0.45 higher, closing at $140.12 per cwt.

Cotton prices were lower with cash prices losing 0.24 cents to settle at 60.88 cents per pound and futures prices losing 0.35 cents settling 62.32 cents per pound.

Corn and grain sorghum prices were higher, with corn cash and futures prices both gaining $0.04 settling at $3.90 and $3.80 per bushel, respectively. Grain sorghum prices gained $0.08 to settle at $5.99 per cwt.

Wheat cash prices were higher with cash prices gaining $0.03, settling at $3.90. Futures prices gained $0.02 to settle at $4.88 per bushel.

Stock markets closed lower today, brought on by the prospect of an increase in interest rates. Crude oil prices closed $0.12 higher today, settling at $46.06 per barrel.

Daily Market News Summary Data 10/29/15

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This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with only about 44 percent of Texas still in some stage of drought intensity, down 21 percentage points from last week. Additionally, nearly 3 percent of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with almost 54 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 5 percentage points from last week.