Texas Daily Ag Market News Summary 03/02/16

Posted 8 years 270 days ago by

Feeder cattle auctions reported prices $2 to $7 higher; Futures higher.

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

Cotton lower.

Grains and soybeans mixed.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $2 to $7 higher, one location reported prices $3 to $6 lower. Feeder cattle futures were $0.25 higher, closing at $158.30 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade gaining $1.90 to close at $220.05 per cwt; select grade dropped $1.04 to close at $211.93 per cwt. Fed cattle futures were $0.80 lower, closing at $136.30 per cwt. Estimated cattle harvest for the week totaled 322,000 head up 8,000 from last week and on par with last year’s total.

Cotton cash prices were lower, losing 0.50 to close at 53.87 cents per pound; March futures dropped 0.21 cents to close at 58.04 cents per pound.

Corn prices were mixed with cash prices remaining at $3.58 per bushel; March corn futures were higher, gaining $0.01 to close at $3.55 per bushel. Grain Sorghum prices were lower, dropping $0.21 to close at $5.11 per cwt.

Wheat prices were higher with cash prices gaining $0.06 to close at $3.80; March futures gained $0.05 to close at $4.43 per bushel.

Milk prices were higher with April Class III Milk futures gaining $0.07 to close at $13.63 per cwt.

Stock markets were higher today as oil prices continue to rise, bringing energy shares and the rest of the stock market along with it. Crude oil prices were higher, gaining $0.26 to close at $34.66 per barrel.

Daily Market Summary Data 03/02/16

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