Texas Daily Ag Market News Summary 1/21/16

Posted 8 years 311 days ago by

Feeder cattle auctions prices were $2 to $12 lower; Futures higher.
Fed cattle cash trade inactive; Formula trades higher; Futures higher; Beef prices lower.
Cotton higher.
Grains and soybeans higher.
Crude oil higher; Natural gas higher.
Stock markets higher.

Texas feeder cattle auctions reported prices $2 to $12 lower. Feeder cattle futures were $3.67 higher, closing at $158.67 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $2.28 to close at $227.67 per cwt; select grade lost $1.06 to close at $223.08 per cwt. Fed cattle futures were $3.00 higher, closing at $130.25 per cwt. Estimated cattle harvest for the week totaled 440,000 head, down 3,000 from last week and up 6,000 from last year’s total.

Cotton cash prices were steady, closing at 60.75 cents per pound; March futures were higher gaining 0.12 cent to close at 62.09 cents per pound. Grain sorghum prices were lower, losing $0.09 to close at $5.61 per cwt.

Corn prices were higher with cash price gaining $0.11 to close at $3.84 per bushel; March futures prices were lower losing $0.02 closing at $3.67 per bushel.

Wheat prices were higher with cash price gaining $0.33 to close at $4.11 per bushel; March futures prices gained $0.05 to close at $4.72 per bushel.

Stock markets were higher today, offering a reprieve from this week’s rout, as oil prices climbed. Crude oil prices were higher, gaining $2.98 to close at $29.53 per barrel.

Daily Market Summary Data 01/21/16

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This week’s U.S. Drought Monitor for Texas showed steady drought conditions for the state, with only about 1.69% of Texas still in some stage of drought intensity, same from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought, down 63.56 percentage points from three months ago. On the national level, drought conditions improved slightly, with almost 25.90% of the U.S. experiencing abnormal dryness or some degree of drought, down 0.59 percentage points from last week.