Texas Daily Ag Market News Summary 02/03/16

Posted 8 years 298 days ago by

Feeder cattle auctions reported prices steady to $15 higher; Futures higher.

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

Cotton lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $15 higher per cwt. Feeder cattle futures were $0.10 higher, closing at $157.95 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade losing $1.90 to close at $220.57 per cwt; select grade gained $0.39 to close at $218.02 per cwt. Fed cattle futures were $1.13 higher, closing at $136.85 per cwt. Estimated cattle harvest for the week totaled 286,000 head down 47,000 from last week and 33,000 from last year. Year-to-date harvest is down 10%.

Cotton prices were lower with cash prices losing 0.50 cents to close at 60.12 cents per pound; March futures dropped 0.36 cents to close at 61.94 cents per pound.

Corn prices were lower with cash prices losing $0.01 to close at $3.76 per bushel; March futures prices dropped $0.02, to close at $3.71 per bushel. Grain Sorghum cash prices were lower, losing $0.03 to close at $5.73 per cwt.

Wheat prices were higher with cash prices gaining $0.03 to close at $3.83 per bushel; March futures prices gained $0.04 to close at $4.69 per bushel.

Milk prices were lower with February Class III milk futures losing $0.02 to close at $13.90 per cwt.

Stock markets were higher today, as stocks rallied behind increases in energy and oil prices. Crude oil prices were higher gaining $2.40 to close at $32.28 per barrel.

Daily Market Summary Data 02/03/16

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