Texas Daily Ag Market News Summary 05/16/16

Posted 8 years 195 days ago by

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

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

Cotton higher.

Grains and Soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. Feeder cattle futures were $1.60 higher, closing at $148.65 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $3.84 to close at $222.40 per cwt and select grade gaining $2.59 to close at $208.54 per cwt. Fed cattle futures were $0.41 lower, closing at $123.02 per cwt. Estimated cattle harvest for the week totaled 113,000 up 3,000 from last week’s total and 1,000 from last year’s total.

Cotton prices were higher with cash prices gaining 0.50 cents to close at 58.87 cents per pound and July futures gaining 0.37 cents to close at 60.99 cents per pound.

Corn prices were higher with cash prices gaining $0.04 to close at $3.92 per bushel and July corn futures gaining $0.03 to close at $3.94 per bushel. Grain Sorghum cash prices were higher, gaining $0.07 to close at $5.90 per cwt.

Wheat prices were lower with cash prices losing $0.03 to close at $3.70 per bushel and July wheat futures losing $0.02 to close at $4.54 per bushel.

Milk prices were higher with May Class III Milk futures gaining $0.01 to close at $12.74 per cwt.

Stock Markets were higher today, as oil prices hit a new high for 2016. Crude oil prices were higher, with June Crude oil futures gaining $1.51 to close at $47.72 per barrel.

Daily Market Summary Data 05/16/16

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