Texas Daily Ag Market News Summary 03/09/16

Posted 8 years 263 days ago by

Feeder cattle auctions reported prices steady to $3 higher; Futures higher.

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

Cotton futures lower.

Grains and soybeans mixed.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $3 higher, with one instance of $5 to $8 lower. Feeder cattle futures were $0.08 higher, closing at $159.05 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade gaining $3.57 to close at $223.82 per cwt and select grade losing $0.89 to close at $213.64 per cwt. Fed cattle futures were $0.35 lower, closing at $136.77 per cwt. Estimated cattle harvest for the week totaled 322,000 head up 4,000 from last week and down 2,000 from last year’s total. Year-to-date harvest is down 0.6%.

Cotton prices were mixed with cash prices remaining at 54.62 cents per pound; March futures dropped 1.62 cents to close at 56.69 cents per pound.

Corn prices were mixed with cash prices losing $0.01 to close at $3.62 bushel; March corn futures were steady to remain at $3.59 per bushel. Grain Sorghum cash prices were lower losing $0.01 to close at $5.16

Wheat prices were higher with cash prices gaining $0.04 to close $4.00 per bushel; March futures gained $0.05 to close at $4.65 per bushel.

Milk prices were lower with Class III Milk futures losing $0.05 to close at $13.82 per cwt.

Stock markets were higher today, brought on by increases in energy shares. Crude oil prices were higher, gaining $1.79 to close at $38.29 per barrel.

Daily Market Summary Data 03/09/16

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