Texas Daily Ag Market News Summary 03/30/16

Posted 8 years 242 days ago by

Feeder cattle auctions reported steady prices; Futures lower.

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

Cotton mixed.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported steady prices. Feeder cattle futures were $3.50 lower, closing at $152.57 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $134.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $3.19, to close at $221.87 per cwt and select grade losing $4.16 to close at $212.68 per cwt. Fed cattle futures were $2.50 lower, closing at $132.35 per cwt. Estimated cattle harvest for the week totaled 321,000 head down 6,000 from last week and up 1,000 from last year’s total. For the time period of March 21-27 the USDA NASS Field Office reported that livestock producers in South Texas reported that supplemental feeding was limited due to more abundant grazing. Pastures conditions improved over the past week and began greening up from recent rainfall in many areas of the state. Pasture and range conditions were rated good to fair.

Cotton prices were mixed with cash prices losing 0.25 cents to close at 54.62 cents per pound and May futures gaining 0.29 cents to close at 57.67 cents per pound. The USDA NASS Field Office reported that in areas of the Northern Low Plains cotton producers began field preparations.

Corn prices were lower with cash and futures prices both losing $0.06 to close at $3.69 and $3.67 per bushel, respectively. Grain Sorghum cash prices were lower, losing $0.11 to close at $5.30 per cwt. the USDA NASS Field Office reported corn planting continued in areas of the Southern High Plains and the Blacklands. In South Texas, sorghum planting continued.

Wheat prices were lower with cash and futures prices both losing $0.16 to close at $3.90 and $4.66 per bushel, respectively. The USDA NASS Field Office reported some producers in the Northern High Plains began irrigating wheat. Winter wheat in areas of the Northern and Southern Low Plains and Cross Timbers continued to progress, however most areas could benefit from more rainfall.

Milk prices were lower with April Class III Milk futures losing $0.01 to close at $13.76 per cwt.

Stock markets were higher today, marking the fourth consecutive day of gains for major indexes, led by rising prices in technology and crude oil shares. Crude oil prices were higher, with May Crude oil futures gaining $0.04, to close at $38.32 per barrel.

Daily Market Summary Data 03/30/16

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