Texas Daily Ag Market News Summary 04/14/16

Posted 8 years 227 days ago by

Feeder cattle auctions reported prices $2 to $10 lower; Futures higher.

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

Cotton lower.

Grains and Soybeans mixed.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets steady.

Texas feeder cattle auctions reported prices $2 to $10 lower, with one instance of steady to $3 higher. Feeder cattle futures were $0.12 higher, closing at $154.92 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $132.00 per cwt. Whole sale boxed beef values were higher with choice grade gaining $2.22, to close at $220.43 per cwt and select grade gaining $2.30 to close at $214.83 per cwt. Fed cattle futures were $0.42 lower, closing at $131.75 per cwt. Estimated cattle harvest for the week totaled 444,000 head up 8,000 from last week and 12,000 from last year’s total.

Cotton prices were lower with cash prices losing 1.00 cent to close at 56.12 cents per pound and May futures losing 0.99 cents to close at 60.64 per pound.

Corn prices were steady with cash and futures prices both remaining at $3.76 and $3.74 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.02, to close at $5.43 per cwt.

Wheat prices were mixed with cash prices gaining $0.01 to close at $3.80 per bushel and May futures remaining at $4.55 per bushel.

Milk prices were lower with April Class III Milk futures losing $0.06 to close at $13.71 per cwt.

Stock Markets were steady today, as the finance sector experienced its fifth straight day of gains, but leaving other major indexes unchanged. Crude oil prices were lower, with May Crude oil futures losing $0.26 to close at $41.50 per barrel.

Daily Market Summary Data 04/14/16

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This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with only 25.44% of Texas still in some stage of drought intensity, down 0.53 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 as well, with 37.86% of the U.S. experiencing abnormal dryness or some degree of drought, down 1.34 percentage points from last week.