Texas Daily Ag Market News Summary 04/21/16

Posted 8 years 220 days ago by

Feeder cattle auctions reported prices $5 to $10 lower; Futures higher.

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

Cotton mixed.

Grains and Soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices $5 to $10 lower. Feeder cattle futures were $0.05 higher, closing at $149.45 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $2.05, to close at $220.72 per cwt and select grade losing $0.19 to close at $212.77 per cwt. Fed cattle futures were $0.20 higher, closing at $126.50 per cwt. Estimated cattle harvest for the week totaled 444,000 head up 3,000 from last week and up 4,000 from last year’s total.

Cotton prices were mixed with cash prices gaining 0.25 cents to close at 57.37 cents per pound and May futures losing 0.31 cents to close at 63.49 per pound.

Corn prices were lower with cash prices losing $0.11 to close at $3.86 per bushel and May futures losing $0.10 to close $3.85 per bushel. Grain Sorghum cash prices were lower, dropping $0.18 to close at $5.61 per cwt.

Wheat prices were lower with cash prices losing $0.06 to close at $4.09 per bushel and May futures prices losing $0.04 to close at $4.89 per bushel.

Milk prices were lower with April Class III Milk futures losing $0.04 to close at $13.65 per cwt.

Stock Markets were lower today, dragged down by declines in utilities and telecommunication shares. Crude oil prices were lower, with June Crude oil futures losing $1.00 to close at $43.18 per barrel.

Daily Market Summary Data 04/21/16

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This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with only 19.42% of Texas still in some stage of drought intensity, down 6.02 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 39.20% of the U.S. experiencing abnormal dryness or some degree of drought, down 0.08 percentage points from last week.