Texas Daily Ag Market News Summary 05/09/16

Posted 8 years 202 days ago by

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

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

Cotton futures lower.

Grains and Soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $8 higher. Feeder cattle futures were $3.43 higher, closing at $150.80 per hundredweight (cwt). The Texas fed cattle cash trade was higher, closing at $126.00 per cwt. Whole sale boxed beef values were higher with choice grade gaining $3.83 to close at $207.57 per cwt and select grade gaining $0.62 to close at $194.94 per cwt. Fed cattle futures were $2.58 higher, closing at $123.30 per cwt. Estimated cattle harvest for the week totaled 110,000 head on par with last week’s total and down 4,000 from last year’s total. Year-to-date harvest is down 3.5%.

Cotton prices were mixed with cash prices remaining 57.62 cents per pound and May futures losing 0.50 to close at 61.33 cents per pound.

Corn prices were lower with cash prices losing $0.09 to close at $3.66 per bushel and May corn futures losing $0.08 to close at $3.68 per bushel. Grain Sorghum cash prices were lower, losing $0.15 to close at $5.54 per cwt.

Wheat prices were lower with cash and futures both losing $0.07 to close at $3.66 and $4.34 per bushel, respectively.

Milk prices were lower with May Class III Milk futures losing $0.12 to close at $12.75 per cwt.

Stock Markets were higher for today, pushed up by a rally in health-care and biotechnology shares. Crude oil prices were lower, with June Crude oil futures losing $1.22 to close at $43.44 per barrel.

Daily Market Summary Data 05/09/16

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