Texas Daily Ag Market News Summary 04/06/16

Posted 8 years 235 days ago by

Feeder cattle auctions reported prices steady to $8 lower; Futures higher.

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

Cotton lower.

Grains and soybeans mixed.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $8 lower. Feeder cattle futures were $0.55 higher, closing at $153.17 per hundredweight (cwt). The Texas fed cattle cash trade was higher today, gaining $0.47 and closing at $133.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $1.29, to close at $216.41 per cwt and select grade losing $1.77 to close at $207.43 per cwt. Fed cattle futures were $1.40 higher, closing at $132.07 per cwt. Estimated cattle harvest for the week totaled 331,000 head up 10,000 from last week and 20,000 from last year’s total.

Cotton prices were lower with cash prices losing 0.25 to close at 54.87 cents per pound and May futures losing 0.15 cents to close at 58.75 cents per pound.

Corn prices were higher with cash and May futures prices both gaining $0.01 to close at $3.60 and $3.58 per bushel, respectively. Grain Sorghum cash prices were higher gaining $0.03, to close at $5.14 per cwt.

Wheat prices were lower cash and futures prices both losing $0.13 to close at $3.86 and $4.61 per bushel, respectively.

Milk prices were lower with April Class III Milk futures losing $0.02 to close at $13.70 per cwt.

Stock markets were higher today, putting an end to a two day losing streak for major US indexes. Today’s gains were led by health-care shares, after a merger between two major companies was terminated. Crude oil prices were higher, with May Crude oil futures gaining $1.86, to close at $37.75 per barrel.

Daily Market Summary Data 04/06/16

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This week’s U.S. Drought Monitor for Texas showed worsening in 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 improved slightly, with 34.75% of the U.S. experiencing abnormal dryness or some degree of drought, down 4.15 percentage points from last week.