Texas Daily Ag Market News Summary 03/08/16

Posted 8 years 264 days ago by

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

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

Cotton lower.

Grains and soybeans higher.

Milk futures steady.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $5 lower. Feeder cattle futures were $1.02 higher, closing at $158.97 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $136.00 per cwt. Whole sale boxed beef values were mixed with choice grade losing $1.17 to close at $220.25 per cwt and select grade gaining $0.79 to close at $214.53 per cwt. Fed cattle futures were $2.83 lower, closing at $137.12 per cwt. Estimated cattle harvest for the week totaled 212,000 head down 2,000 from last week and 8,000 from last year’s total. Year-to-date harvest is down 3.6%.

Cotton prices were lower with cash prices losing 0.50 cents to close at 54.62 cents per pound; March futures dropped 0.71 cents to close at 58.21 cents per pound.

Corn prices were higher with cash prices gaining $0.02 to close at $3.63 bushel; March corn futures gaining $0.04 to close at $3.59 per bushel. Grain Sorghum cash prices were higher gaining $0.01 to close at $5.17

Wheat cash prices were higher gaining $0.01 to close $3.96 per bushel; March futures were steady to remain at $4.60 per bushel.

Milk prices were steady with Class III Milk futures remaining at $13.87 per cwt.

Stock markets were lower today, putting an end to the recent 5 day rally in stock prices. Crude oil prices were lower, dropping $1.40 to close at $36.50 per barrel.

Daily Market Summary Data 03/08/16

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