Texas Daily Ag Market News Summary 05/18/16

Posted 8 years 193 days ago by

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

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

Cotton futures lower.

Grains and Soybeans mixed.

Milk futures steady.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher, with instances of $5 to $8 lower. Feeder cattle futures were $0.02 lower, closing at $149.50 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $131.71 per cwt. Whole sale boxed beef values were higher with choice grade gaining $2.43 to close at $227.76 per cwt and select grade gaining $0.60 to close at $212.20 per cwt. Fed cattle futures were $0.20 lower, closing at $123.12 per cwt. Estimated cattle harvest for the week totaled 335,000 down 1,000 from last week’s total and 5,000 from last year’s total. For the time period of May 9-15 the USDA NASS Field office reported that in North East Texas, feral hog activity was observed. Livestock, range and pasture conditions were mostly good across the state.

Cotton prices were mixed with cash prices remaining at 59.37 cents per pound and July futures losing 0.15 cents to close at 62.05 cents per pound.

Corn prices were mixed with cash prices losing $0.01 to close at $3.95 per bushel and July corn futures gaining $0.03 to close at $4.00 per bushel. Grain Sorghum cash prices were higher, gaining $0.02 to close at $5.99 per cwt. The USDA NASS Field office reported that planting activities continued across the state. Corn in the Southern High Plains emerged, while corn conditions deteriorated in the Blacklands, due to precipitation. Sorghum reached the heading stage in many parts of the Upper Coast and the Coastal Bend.

Wheat prices were lower with cash prices losing $0.02 to close at $3.74 per bushel and July wheat futures losing $0.01 to close at $4.57 per bushel. The USDA NASS Field office reported that winter wheat continued to progress well in many areas of the Southern High Plains, the Cross Timbers and the Edwards Plateau. Harvest was active in many areas of the Upper Coast.

Milk prices were steady with May Class III Milk futures remaining $12.75 per cwt.

Stock Markets were lower today, as the minutes from a Federal Reserve meeting revealed the possibility of a June interest-rate increase. Crude oil prices were higher, with June Crude oil futures losing $0.12 to close at $48.19 per barrel.

Daily Market Summary Data 05/18/16

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