Texas Daily Ag Market News Summary 05/31/16

Posted 8 years 181 days ago by

Feeder cattle auctions were inactive due to holiday; Futures higher.

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

Cotton lower.

Grains and Soybeans lower.

Milk futures steady.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions were inactive due to Memorial Day holiday. Feeder cattle futures were $0.40 higher, closing at $147.10 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $0.73 to close at $221.34 per cwt and select grade losing $0.20 to close at $201.37 per cwt. Fed cattle futures were $1.40 higher, closing at $121.10 per cwt. Estimated cattle harvest for the week totaled 115,000 head down 105,000 from last week’s total and 112,000 from last year’s total. Year-to-date harvest is down 97%.

Cotton prices were lower with cash prices losing 0.50 cents to close at 60.87 cents per pound and July futures losing 0.34 cents to close at 63.94 cents per pound.

Corn prices were lower with cash prices losing $0.04 to close at $4.00 and July corn futures losing $0.08 to close at $4.05 per bushel.

Wheat prices were lower with cash prices losing $0.15 to close at $3.64 and July wheat futures losing $0.13 to close at $4.47 per bushel.

Milk prices were steady with May Class III Milk futures remaining at $12.80 per cwt.

Stock Markets were lower today, but the Dow industrials and the S%P 500 still remained in positive territory for the month. Crude oil prices were lower, with July crude oil futures losing $0.23 to close at $49.10 per barrel.

Daily Market Summary Data 05/31/16

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