Texas Daily Ag Market News Summary 04/28/16

Posted 8 years 213 days ago by

Feeder cattle auctions reported prices $3 to $7 lower; Futures lower.

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

Cotton lower.

Grains and Soybeans mixed.

Milk futures steady.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $3 to $7 lower. Feeder cattle futures were $0.78 lower, closing at $145.52 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $2.31 to close at $212.50 per cwt and select grade losing $2.50 to close at $203.09 per cwt. Fed cattle futures were $3.15 lower, closing at $122.85 per cwt. Estimated cattle harvest for the week totaled 447,000 head up 3,000 from last week’s total and down 3,000 from last year’s total. Year-to-date harvest is down 0.7%.

Cotton prices were lower with cash prices losing 0.50 cents to close at 58.62 cents per pound and May futures losing 0.38 cents to close at 63.69 per pound.

Corn prices were higher with cash and futures prices both gaining $0.06 to close at $3.89 and $3.87 per bushel, respectively. Grain Sorghum cash prices were higher gaining $0.13 to close at $5.66 per cwt.

Wheat prices were lower with cash and futures prices both losing $0.03 to close at $3.83 and $4.61 per bushel, respectively.

Milk prices were steady with April Class III Milk futures remaining at $13.63 per cwt.

Stock Markets were lower today, led downward by declines in technology sector, after disappointing quarterly results from major staples in sector. Crude oil prices were higher, with June Crude oil futures gaining $0.70 to close at $46.03 per barrel.

Daily Market Summary Data 04/27/16

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This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with only 13.09% of Texas still in some stage of drought intensity, down 6.33 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 39.28% of the U.S. experiencing abnormal dryness or some degree of drought, down 0.36 percentage points from last week.