Texas Daily Ag Market News Summary 06/15/16

Posted 8 years 165 days ago by

Feeder cattle auctions reported prices steady to $15 lower; Futures lower.

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

Cotton lower.

Grains and Soybeans lower.

Milk futures steady.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $15 lower. Feeder cattle futures were $1.90 lower, closing at $140.25 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade losing $1.92 to close at $226.42 per cwt and select grade gaining $0.19 to close at $204.26 per cwt. Fed cattle futures were $1.78 lower, closing at $117.27 per cwt. Estimated cattle harvest for the week totaled 335,000 head on par with last week and up 18,000 from last year’s total.

Cotton prices were lower with cash prices losing 0.50 cents to close at 60.12 cents per pound and July futures losing 0.44 cents to close at 62.60 cents per pound. For the time period of June 6-12 the USDA NASS Field Office reported that Row crops across the state continued to progress as planting resumed in many areas. A number of cotton fields were being replanted due to previous hail damage.

Corn prices were lower with cash prices losing $0.10 to close at $4.22 and July futures losing $0.08 to close at $4.29 per bushel. Grain Sorghum cash prices were lower, losing $0.12 to close at $6.54 per cwt. The USDA NASS Field Office reported Corn was in good condition in areas of the Blacklands, South Central and South Texas, while corn in Northeast Texas displayed signs of stress due to standing water. Sorghum in areas of the Southern High Plains experienced fall armyworm infestation and preparation for harvest began in the Lower Valley.

Wheat prices were lower with cash prices losing $0.03 to close at $3.74 per bushel and July wheat futures losing $0.02 to close at $4.57 per bushel. The USDA NASS Field Office reported Wheat and oat harvest was active across most of the state last week. Late harvesting continued where conditions allowed producers to return to the fields. Haying and silage harvest of small grains resumed in many areas due to dry weather and warmer temperatures. Earlier freeze damage and rust issues have affected some winter wheat fields in the Northern Low Plains, the Cross Timbers and the Upper Coast.

Milk prices were steady with June Class III Milk futures remaining at $13.28 per cwt.

Stock Markets were lower today, marking the fifth consecutive day of losses for U.S markets, following the Federal Reserve’s decision to keep the benchmark lending rate steady. Crude oil prices were lower, with July crude oil futures losing $0.48 to close at $48.01 per barrel.

Daily Market Summary Data 06/15/16

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