Texas Daily Ag Market News Summary 05/23/16

Posted 8 years 188 days ago by

Feeder cattle auctions reported steady prices; Futures lower.

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

Cotton futures lower.

Grains and Soybeans mixed.

Milk futures steady.

Crude oil higher; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported steady prices. Feeder cattle futures were $1.62 lower, closing at $147.00 per hundredweight (cwt). The Texas fed cattle cash trade was lower, losing $5.00 to close at $126.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $1.64 to close at $224.32 per cwt and select grade losing $1.27 to close at $207.15 per cwt. Fed cattle futures were $2.90 lower, closing at $118.15 per cwt. Estimated cattle harvest for the week totaled 111,000 head down 2,000 from last week’s total and up 109,000 from last year’s total.

Cotton prices were mixed with cash prices remaining at 58.37 cents per pound and July futures losing 0.22 cents to close at 61.45 cents per pound.

Corn prices were higher with cash prices gaining $0.04 to close at $3.94 per bushel and July corn futures gaining $0.03 to close at $3.98 per bushel. Grain Sorghum cash prices were higher, gaining $0.07 to close at $5.97 per cwt.

Wheat prices were lower with cash prices losing $0.03 to close at $3.64 per bushel and July wheat futures losing $0.02 to close at $4.47 per bushel.

Milk prices were steady with May Class III Milk futures remaining at $12.82 per cwt.

Stock Markets were lower today, as today revealed the fewest shares changing hands in almost two months. Crude oil prices were higher, with June Crude oil futures gaining $0.33 to close at $48.08 per barrel.

Daily Market Summary Data 05/23/16

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