Texas Daily Ag Market News Summary 01/14/16

Posted 8 years 318 days ago by

Feeder cattle auctions prices steady to $10 lower with one location reporting $2 higher; Futures lower.

Fed cattle cash trade active; Formula trades higher; Futures lower; Beef prices mixed.

Cotton lower.

Grains and soybeans lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $10 lower with one location reporting $2 higher. Feeder cattle futures were $1.97 lower, closing at $158.80 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $134.00 per cwt. Whole sale boxed beef values were mixed with choice grade losing $0.05 to close at $235.16 per cwt; select grade gaining $0.35 to close at $229.43 per cwt. Fed cattle futures were $1.55 lower, closing at $130.55 per cwt. Estimated cattle harvest for the week totaled 443,000 head, up 18,000 from last week and up 3,000 from last year’s total.

Cotton prices were lower with cash prices losing 0.12 cents to close at 60.25 cents per pound; March futures were lower, losing 0.24 cents to close at 61.90 cents per pound.

Corn prices were higher with cash prices gaining $0.02 to close at $3.62 per bushel; March futures prices were steady to remain at $3.58 per bushel. Grain sorghum cash prices were lower, losing $0.12 to close at $5.50 per cwt.

Wheat prices were lower with cash prices losing $0.04 to close at $3.86 per bushel; March futures prices losing $0.07, to close at $4.69 per bushel.

Stock markets were higher today, a rise in oil prices brought the major U.S. indexes up. Crude oil prices were higher, gaining $0.72 to close at $31.20 per barrel.

DailyMarket Summary Data 01/14/16

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This week’s U.S. Drought Monitor for Texas showed no change in drought conditions for the state, with only 1.69% of Texas still in some stage of drought intensity, on par with last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with 29.54% of the U.S. experiencing abnormal dryness or some degree of drought, down 1.89 percentage points from last week.