Texas Daily Ag Market News Summary 11/19/15

Posted 9 years 10 days ago by

Feeder cattle auction quoted prices $2 to $12 lower with one instance of $5 to $7 higher; futures higher.

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

Cotton higher.

Grains and soybeans higher.

Crude oil lower; natural gas lower.

Stock markets stagnant.

Texas feeder cattle auctions quoted prices of $2 to $12 lower, with one location reporting $5 to $7 higher. Feeder cattle futures were $0.35 higher, closing at $175.22 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $1.85 settling at $204.83 per cwt, and select grade losing $3.36 settling at $193.34 per cwt. Estimated cattle harvest for the week totaled 433,000 head, on par with last week’s total and down 10,000 from a year ago. Year-to-date harvest is down 2%. Fed cattle futures were $1.07 lower, closing at $129.90 per cwt.

Cotton cash prices were higher gaining 0.50 cents to settle at 61.13 cents per pound; futures prices gained 0.06 cents, settling at 61.58 cents per pound.

Corn and grain sorghum prices were higher, with corn cash and futures prices both gaining $0.02 to settle at $3.74 and $3.64 per bushel, respectively. Grain sorghum cash prices were higher gaining $0.04 to settle at $5.70 per cwt.

Wheat prices were higher with cash and futures prices both gaining $0.04, settling at $3.82 and $4.63 per bushel, respectively.

Stock markets were stagnant today, the markets were brought down by declines in health-care and energy shares, muting out yesterday’s rally. Crude oil prices closed $0.21 lower, settling at $40.54 per barrel.

Daily Market Summary Data 11/19/15

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This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with only 9.5% of Texas still in some stage of drought intensity, down .26 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions worsened slightly, with 56% of the U.S. experiencing abnormal dryness or some degree of drought, up 1.49 percentage points from last week.