Texas Daily Ag Market News Summary 03/31/16

Posted 8 years 241 days ago by

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

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

Cotton futures higher.

Grains and soybeans mixed.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets steady.

Texas feeder cattle auctions reported prices steady to $5 lower, with one instance of $3 higher. Feeder cattle futures were $4.50 higher, closing at $157.07 per hundredweight (cwt). The Texas fed cattle cash trade was lower today, losing $1.03 closing at $132.97 per cwt. Whole sale boxed beef values were lower with choice grade losing $0.88, to close at $220.99 per cwt and select grade losing $2.20 to close at $210.48 per cwt. Fed cattle futures were $0.57 higher, closing at $132.92 per cwt. Estimated cattle harvest for the week totaled 431,000 head down 6,000 from last week and up 8,000 from last year’s total.

Cotton prices were mixed with cash prices remaining at 54.62 cents per pound and May futures gaining 0.77 cents to close at 58.44 cents per pound.

Corn prices were lower with cash prices losing $0.13 to close at $3.56 and May futures prices losing $0.15 to close at $3.52 per bushel. Grain Sorghum cash prices were lower, losing $0.28 to close at $5.02 per cwt.

Wheat prices were higher with cash prices gaining $0.11 to lose at $4.01 per bushel and May futures prices gaining $0.10 to close at $4.76 per bushel.

Milk prices were higher with April Class III Milk futures gaining $0.02 to close at $13.78 per cwt.

Stock markets were steady today, marking a quit end to a volatile first quarter, worldwide, for major indexes. Crude oil prices were higher, with May Crude oil futures gaining $0.02, to close at $38.34 per barrel.

Daily Market Summary Data 03/31/16

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This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 24.84% of Texas still in some stage of drought intensity, up 10.48 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions worsened slightly, with 38.90% of the U.S. experiencing abnormal dryness or some degree of drought, up 4.15 percentage points from last week.