Texas Daily Ag Market News Summary 05/26/16

Posted 8 years 185 days ago by

Feeder cattle auctions reported prices $3 to $10 lower; Futures higher.

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

Cotton higher.

Grains and Soybeans mixed.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices $3 to $10 lower. Feeder cattle futures were $0.33 higher, closing at $145.90 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing at $124.93 per cwt. Whole sale boxed beef values were lower with choice grade losing $0.85 to close at $222.72 per cwt and select grade losing $1.82 to close at $203.26 per cwt. Fed cattle futures were $0.77 higher, closing at $118.92 per cwt. Estimated cattle harvest for the week totaled 447,000 head down 1,000 from last week’s total and up 99,000 from last year’s total.

Cotton prices were higher with cash prices gaining 1.50 cents to close at 61.37 cents per pound and July futures gaining 1.43 cents to close at 64.33 cents per pound.

Corn prices were higher with cash prices gaining $0.02 to close at $4.04 per bushel and July corn futures gaining $0.03 to close at $4.08 per bushel. Grain Sorghum cash prices were higher, gaining $0.05 to close at $6.15 per cwt.

Wheat prices were higher with cash and futures prices both gaining $0.11 to close at $3.79 and $4.62 per bushel, respectively

Milk prices were lower with May Class III Milk futures losing $0.02 to close at $12.80 per cwt.

Stock Markets were lower today, fueled by losses in materials, energy and financial shares. Crude oil prices were lower, with July crude oil futures losing $0.08 to close at $49.48 per barrel.

Daily Market Summary Data 05/26/16

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This week’s U.S. Drought Monitor for Texas showed a slight worsening in drought conditions for the state, with 2.70% of Texas still in some stage of drought intensity, up .10 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with 29.87% of the U.S. experiencing abnormal dryness or some degree of drought, down 2.17 percentage points from last week.