Texas Daily Ag Market News Summary 05/04/16

Posted 8 years 207 days ago by

Feeder cattle auctions reported prices $3 to $6 higher; Futures higher.

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

Cotton lower.

Grains and Soybeans mixed.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $3 to $6 higher with instances of steady to $6 lower. Feeder cattle futures were $1.67 higher, closing at $144.92 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $1.20 to close at $204.74 per cwt and select grade losing $1.37 to close at $195.65 per cwt. Fed cattle futures were $1.08 higher, closing at $117.45 per cwt. Estimated cattle harvest for the week totaled 332,000 head down 3,000 from with last week’s total and up 4,000 from last year’s total. For the time period of April 25- May 1 the USDA NASS Field Office reported that Livestock conditions were mostly good across the state. Range and pasture development continued to make good progress throughout the state, contributing to adequate forage for livestock.

Cotton prices were lower with cash prices losing 0.25 cents to close at 57.87 cents per pound and May futures losing 0.98 cents to close at 62.07 cents per pound. The USDA NASS Field Office reported that cotton planting was delayed in areas of the Northern Low and High Plains, the Blacklands, and Northeast Texas, due to wet conditions.

Corn prices were lower with cash and futures prices both losing $0.05 to close at $3.76 and $3.73 per bushel, respectively. Grain Sorghum cash prices were lower, losing $0.07 to close at $5.45 per cwt. The USDA NASS Field Office reported that corn was beginning to emerge in areas of the Blacklands and South Texas. Sorghum planting remained active throughout the state, while producers in the Southern Low Plains applied fertilizer.

Wheat prices were higher with cash prices gaining $0.09 to close at $3.73 and May futures gaining $0.02 to close at $4.44. The USDA NASS Field Office reported that winter wheat and oats continued to mature throughout the state, with some hail damage reported in areas of the Southern Low Plains and the Cross Timbers. Areas of the Edwards Plateau experienced some damage due to high winds.

Milk prices were lower with May Class III Milk futures losing $0.02 to close at $12.93 per cwt.

Stock Markets were lower today, dragging the Dow Jones to its lowest level since mid-April. Crude oil prices were higher, with June Crude oil futures gaining $0.13 to close at $43.78 per barrel.

Daily Market Summary Data 05/04/16

If you are interested in receiving this daily report, please subscribe here.