Texas Daily Ag Market News Summary 02/16/16

Posted 8 years 285 days ago by

Feeder cattle auctions reported steady prices; Futures higher.

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

Cotton higher.

Grains and soybeans higher.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported steady prices. Feeder cattle futures were $4.43 higher, closing at $154.50 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $1.59 to close at $214.49 per cwt; select grade dropped $3.46 to close at $209.07 per cwt. Fed cattle futures were $3.00 higher, closing at $132.95 per cwt. Estimated cattle harvest for the week totaled 201,000 head down 17,000 from last week and 8,000 from last year. Year-to-date harvest is down 3.9%.

Cotton prices were higher with cash prices gaining 1.00 cents to close at at 58.37 cents per pound; March futures gained 0.95 cents to close at 59.85 cents per pound.

Corn prices were higher with cash and futures prices both gaining $0.04 to close at $3.68 and $3.63 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.07 to close at $5.54 per cwt.

Wheat prices were higher with cash prices gaining $0.06 to close at $3.65 per bushel; March futures prices gained $0.07 to close at $4.51 per bushel.

Milk prices were lower with February Class III Milk futures losing $0.03 to close at $13.84 per cwt.

Stock markets were higher today as investors began to sell safe assets, purchased during last week’s big losses, and began buying stocks again. Finance and technology shares led the markets to the biggest two-session gain since August. Crude oil prices were lower losing $0.40 to close at $29.04 per barrel.

Daily Market Summary Data 02/16/16

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