Texas Daily Ag Market News Summary 04/13/16

Posted 8 years 229 days ago by

Feeder cattle auctions reported prices $3 to $8 lower; Futures lower.

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

Cotton futures higher.

Grains and Soybeans higher.

Milk futures lower.

Crude oil lower; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $8 lower. Feeder cattle futures were $0.47 lower, closing at $154.80 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $2.90, to close at $220.21 per cwt and select grade gaining $2.89 to close at $212.53 per cwt. Fed cattle futures were $1.35 lower, closing at $132.17 per cwt. Estimated cattle harvest for the week totaled 34,000 head up 3,000 from last week and 6,000 from last year’s total. For the time period of April 04-10 the USDA NASS Field Office reported that livestock continued to graze wheat pasture in the Northern Low Plains, South Texas, the Upper Coast, and Edwards Plateau. Livestock remained in mostly good condition. Recent rainfall has improved pasture conditions, resulting in a significant decrease in supplemental feeding.

Cotton prices were mixed with cash prices remaining at 57.12 cents per pound and May futures gaining 0.12 cents to close at 61.63 per pound. The USDA NASS Field Office reported cotton and soybean planting were in full swing in the Upper Coast. Cotton planting continued in the Coastal Blend.

Corn prices were higher with cash and futures prices both gaining $0.11 to close at $3.76 and $3.74 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.19, to close at $5.41 per cwt. The USDA NASS Field Office reported corn and sorghum planting progressed, and rice planting and flushing were beginning to wind down in South Texas.

Wheat prices were higher with cash prices gaining $0.07 to close at $3.79 per bushel and May futures gaining $0.08 to close at $4.55 per bushel. The USDA NASS Field Office reported that producers in the Northern Low Plains continued to irrigate wheat fields. Windy, dry conditions in the Northern High Plains and the Edwards Plateau continued to stress winter wheat. Wheat conditions improved in the Southern Low Plains due to warmer weather. In South and Central Texas, wheat and oats began the heading stage.

Milk prices were lower with April Class III Milk futures losing $0.04 to close at $13.77 per cwt.

Stock Markets were higher today, as better than expected earnings from bank shares were released, pushing the Dow Jones industrials to their highest levels of the year. Crude oil prices were lower, with May Crude oil futures losing $0.41 to close at $41.76 per barrel.

Daily Market Summary Data 04/13/16

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