Texas Daily Ag Market News Summary 11/3/15

Posted 8 years 199 days ago by

Feeder cattle auction quoted steady prices; futures lower.

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

Cotton lower.

Grains and soybeans higher.

Crude oil higher; natural gas lower.

Stock markets higher.

Texas feeder cattle auctions quoted steady prices. Feeder cattle futures were $1.62 lower, closing at $190.65 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were lower, with Choice grade losing $1.21 and Select grade losing $2.20, settling at $218.40 and $210.32 per cwt, respectively. Estimated cattle harvest for the week totaled 222,000 head, on par with last week’s total and down 7,000 from a year ago. Year-to-date harvest is down 3%. Fed cattle futures were $1.45 lower, closing at $140.22 per cwt.

Cotton prices were lower with cash prices losing 1.24 cents, closing at 60.63 cents per pound. Futures prices lost 0.72 cents settling 62.57 cents per pound. For the time period Oct. 26- Nov. 1 the USDA NASS Field Office reported that the cotton harvest made good progress early in the week in areas of the Southern Low Plains, Cross Timbers, and Edwards Plateau. However, rain later in the week delayed activities in most areas. Cotton is currently at 40 percent, 9 points above previous year, and 3 points behind normal.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.10 and futures prices gaining $0.03, settling at $3.96 and $3.81 per bushel, respectively. Grain Sorghum cash prices gained $0.08, settling at $5.99 per cwt. The USDA NASS Field Office reported that the corn and sorghum harvest continued to progress, but delays were experienced with the rain event late in the week. Corn harvest is currently at 84 percent, 1 point behind previous year and 10 points behind normal.

Wheat prices were higher with cash prices gaining $0.06 and futures prices gaining $0.05, settling at $4.07 and $4.88 per bushel, respectively. The USDA NASS Field Office reported that decent precipitation helped with winter wheat and oat development as seeding continued. Some delays where experienced in areas of Cross Timbers, and Blacklands due to past weeks rains.

Stock markets closed slightly higher today, pushed up by a rally in energy shares. Crude oil prices closed $1.76 higher today, settling at $47.90 per barrel.

Daily Market Summary Data 11/3/15

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