Texas Daily Ag Market News Summary 12/10/15

Posted 8 years 354 days ago by

Feeder cattle auctions reported prices $10 to $12 lower; futures higher.

Fed cattle cash trade inactive; futures higher; beef prices mixed.

Cotton lower.

Grains and soybeans higher.

Crude oil lower; natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $10 to $12 lower. Feeder cattle futures were $2.43 higher, closing at $153.05 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade remaining at $203.08 per cwt; select grade lost $1.53 closing at $188.47 per cwt. Fed cattle futures were $1.70 higher, closing at $121.55 per cwt. Estimated cattle harvest for the week totaled 447,000 head, up 14,000 from last week and down 1,000 from last year’s total.

Cotton prices were lower with cash prices losing 1.00 cents to close at 62.12 cents per pound; March futures prices lost 1.04 cents to close at 63.77 cents per pound.

Corn cash prices were higher gaining $0.06 to close at $3.83 per bushel; December corn futures gained $0.05 to close at $3.78 per bushel. Grain Sorghum cash prices gained $0.09 to close at $5.88 per cwt.

Wheat prices were higher with cash prices gaining $0.19 to close at $4.00 per bushel; futures prices gained $0.09 to close at $4.76 per bushel.

Stock markets were higher today, as investors bought up cheap energy shares. Crude oil prices were lower, losing $0.40 closing at $36.76 per barrel.

Daily Market Summary Data 12/10/15

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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 2.83% of Texas still in some stage of drought intensity, down 0.79 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions slightly improved, with 35% of the U.S. experiencing abnormal dryness or some degree of drought, down 1.59 percentage points from last week.