Texas Daily Ag Market News Summary 12/3/15

Posted 8 years 361 days ago by

Feeder cattle auctions reported prices steady to $12 lower; futures lower.

Fed cattle cash trade active; futures lower; beef prices higher.

Cotton futures lower.

Grains and soybeans higher.

Crude oil higher; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $12 lower. One location did report prices $2 to $4 higher. Feeder cattle futures were $0.97 lower, closing at $159.75 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing at $124.00 per cwt. Whole sale boxed beef values were higher with choice grade gaining $0.41 closing at $204.49 per cwt; select grade gained $0.77 closing at $193.02 per cwt. Fed cattle futures were $3.40 lower, closing at $125.70 per cwt. Estimated cattle harvest for the week totaled 433,000 head, up 1,000 from last week and down 6,000 from last year’s total. Year-to-date harvest is down 1%.

Cotton cash prices were steady, remaining at 61.12 cents per pound; December futures lost 0.25 cents closing at 61.86 cents per pound.

Corn prices were higher, with corn cash prices gaining $0.08 to close at $3.81; December corn futures gained $0.06 to close at $3.70 per bushel.

Wheat prices were higher with cash prices gaining $0.16 to close at $3.87 per bushel; futures prices gained $0.11 to close at $4.59 per bushel.

Stock markets were lower today, as volatility surrounding the European Central Banks stimulus program continue to linger and effect trading. Crude oil prices were higher, gaining $1.14 closing at $41.08 per barrel.

Daily Market Summary Data 12/3/15

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This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with only 3.6% of Texas still in some stage of drought intensity, down 3.73 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 almost 37% of the U.S. experiencing abnormal dryness or some degree of drought, down 1.71 percentage points from last week.