Texas Daily Ag Market News Summary 11/12/15

Posted 9 years 16 days ago by

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

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

Cotton lower.

Grains and soybeans higher.

Crude oil lower; natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices $3 to $12 lower per hundredweight. Feeder cattle futures were higher today, closing at $175.37 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were lower, with Choice grade losing $4.77 to settle at $211.80 per cwt and Select grade losing $6.46 to settle at $200.48 per cwt. Estimated cattle harvest to date this week totaled 433,000 head, down 10,000 from last weeks total and 2,000 from a year ago. Fed cattle futures settled $4.83 higher at $133.15 per cwt.

Cotton prices were lower, with cash prices losing 0.01 cents to settle at 60.37 cents per pound. Futures prices lost 0.09 cents to close at 61.84 cents per pound.

Corn and grain sorghum prices were higher, with corn cash and futures prices both gaining $0.03 to settle at $3.72 and $3.62 per bushel, respectively. Grain sorghum cash prices closed $0.04 higher at $5.66 per cwt.

Soybean futures prices were $0.04 higher, closing at $8.69 per bushel. Soybean Meal futures were $0.80 lower, closing at $291.40 per ton

Wheat prices were higher, with cash and futures prices both gaining $0.03 to settle at $3.83 per bushel and $4.64 per bushel.

Stock markets closed lower today, dragged down by energy shares. Crude oil prices lost $2.46 to close at $41.75 per barrel.

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This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with about 10% of Texas still in some stage of drought intensity, down 12 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, with 45% of the U.S. experiencing abnormal dryness or some degree of drought, down 3 percentage points from last week.