Texas Daily Ag Market News Summary 03/07/16

Posted 8 years 265 days ago by

Feeder cattle auctions reported prices steady to $5 higher; Futures lower.

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

Cotton mixed.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. Feeder cattle futures were $0.55 lower, closing at $157.95 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $0.45 to close at $221.43 per cwt and select grade gaining $1.75 to close at $213.74 per cwt. Fed cattle futures were $3.60 higher, closing at $139.95 per cwt. Estimated cattle harvest for the week totaled 109,000 head up 5,000 from last week and down 1,000 from last year’s total.

Cotton cash prices were higher, gaining .25 cents to close at 55.12 cents per pound; March futures dropped $0.01 cents to close at 58.92 cents per pound.

Corn prices were mixed with cash prices were higher gaining $0.02 to close at $3.61 bushel; March corn futures were steady to remain at $3.55 per bushel. Grain Sorghum cash prices were higher gaining $0.05 to close at $5.16

Wheat prices were higher with cash prices gaining $0.05 to close $3.95 per bushel; March futures gained $0.02 to close at $4.60 per bushel.

Milk prices were higher with April Class III Milk futures gaining $0.09 to close at $13.87 per cwt.

Stock markets were higher today, as a recent surge in oil prices lifted energy shares. Crude oil prices were higher, gaining $1.98 to close at $37.90 per barrel.

Daily Market Summary Data 03/07/16

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