Texas Daily Ag Market News Summary 04/07/16

Posted 8 years 233 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 futures higher.

Grains and Soybeans mixed.

Milk futures higher.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $8 lower. Feeder cattle futures were $0.98 higher, closing at $145.15 per hundredweight (cwt). The Texas fed cattle cash trade was higher today, gaining $0.16 to close at $133.16 per cwt. Whole sale boxed beef values were lower with choice grade losing $1.67, to close at $216.47 per cwt and select grade losing $1.52 to close at $205.91 per cwt. Fed cattle futures were $0.38 higher, closing at $132.45 per cwt. Estimated cattle harvest for the week totaled 436,000 head up 5,000 from last week and 27,000 from last year’s total.

Cotton prices were mixed with cash prices remaining at 54.87 cents per pound and May futures gaining 0.28 cents to close at 59.03 per pound.

Corn futures were higher with cash and May futures prices both gaining $0.04 to close at $3.64 and $3.62 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.05 to close at $5.19 per cwt.

Wheat prices were lower with cash prices losing $0.06 to close at $3.80 and May wheat futures losing $0.07 to close at $4.54 per bushel.

Milk prices were higher with April Class III Milk futures gaining $0.02 to close at $13.72 per cwt.

Stock Markets were higher today, as investors continue to make a broad pullback from stocks in search of save haven investments. Crude oil prices were lower, with May Crude oil futures losing $0.49 to close at $37.26 per barrel.

Daily Market Summary Data 04/07/16

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