Texas Daily Ag Market News Summary 04/20/16

Posted 8 years 221 days ago by

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

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

Cotton futures higher.

Grains and Soybeans higher.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $8 lower. Feeder cattle futures were $0.77 lower, closing at $149.40 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade gaining $0.09, to close at $222.77 per cwt and select grade losing $0.98 to close at $212.96 per cwt. Fed cattle futures were $1.02 lower, closing at $126.30 per cwt. Estimated cattle harvest for the week totaled 333,000 head down 1,000 from last week and up 2,000 from last year’s total. For the time period of April 11-17 the USDA NASS Field Office reported that livestock conditions were rated good across the state. Grazing was more prevalent as range and pasture conditions improved where precipitation and warmer temperatures occurred. In North East Texas and South Texas, most pastures were greening and supplemental feeding eased.

Cotton prices were mixed with cash prices remaining at 57.12 cents per pound and May futures gaining 1.11 cents to close at 63.80 per pound. The USDA NASS Field Office reported that Cotton planting was underway in South Texas and the Lower Valley. Preparations for cotton continued in the Trans-Pecos, meanwhile field preparations slowed due to rainfall in the areas of the Northern Low and High Plains.

Corn prices were higher with cash and futures prices both gaining $0.10 to close at $3.97 per bushel and $3.95 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.19 to close at $5.79 per cwt. The USDA NASS Field Office reported that Corn planting began in the Northern High Plains while sorghum planting continued in the Southern Low Plains.

Wheat prices were higher with cash prices gaining $0.14 to close at $4.15 per bushel and May futures prices gaining $0.16 to close at $4.93 per bushel. The USDA NASS Field Office reported that Winter wheat continued to progress in most areas, due to recent rainfall. Wheat began heading in areas of the Blacklands. Hail damaged some winter wheat in areas of the Cross Timbers and South Central Texas.

Milk prices were lower with April Class III Milk futures losing $0.02 to close at $13.69 per cwt.

Stock Markets were higher today, after a rally in oil prices sparked major gains for the energy sector. Crude oil prices were higher, with May Crude oil futures gaining $1.55 to close at $42.63 per barrel.

Daily Market Summary Data 04/20/16

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