Texas Daily Ag Market News Summary 11/5/15

Posted 9 years 24 days ago by

Feeder cattle prices $2 to $5 lower; futures lower.

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

Cotton mixed.

Grains and soybeans lower.

Crude oil lower; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $2 to $5 lower per hundredweight. One location did report prices of $5 to $7 higehr. Feeder cattle futures closed $4.53 lower at $181.62 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were lower, with Choice grade dropping $1.28 to $218.86 per cwt and Select grade dropping $1.04 to $208.65 per cwt. Estimated cattle harvest to date this week totaled 443,000 head, up 4,000 from last week and down 5,000 from a year ago. Year-to-date harvest is down 1%. Fed cattle futures settled $2.82 lower at $134.40 per cwt.

Cotton cash prices were lower losing 0.25 cents to close at 60.38 cents per pound, futures prices gained 0.01 cents to settle at 61.95 cents per pound.

Corn and grain sorghum prices were lower, with corn cash prices losing $0.08 and futures prices losing $0.06 to settle at $3.83 and $3.75 per bushel, respectively. Grain sorghum cash prices closed $0.15 lower at $5.84 per cwt. Soybean futures prices were $0.14 lower, closing at $8.68 per bushel.

Wheat cash prices settled $0.06 lower at $4.06 per bushel and futures prices settled $0.07 lower to close at $4.86 per bushel.

Stock markets closed lower today as investors are awaiting the release of this month’s employment data. Crude oil prices lost $1.12 to close at $45.20 per barrel.

This week’s U.S. Drought Monitor for Texas showed improvingf drought conditions for the state, with only about 22% of Texas still in some stage of drought intensity, down 22 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions also improved slightly, with 48% of the U.S. experiencing abnormal dryness or some degree of drought, down 5.6 percentage points from last week.

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Daily Market Summary Data 11/5/15