Texas Daily Ag Market News Summary 06/22/16

Posted 7 years 315 days ago by

Feeder cattle auctions reported prices steady to $7 lower; Futures higher.

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

Cotton lower.

Grains and Soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $7 lower. Feeder cattle futures were $3.50 higher, closing at $140.17 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $2.49 to close at $217.08 per cwt and select grade losing $1.03 to close at $198.35 per cwt. Fed cattle futures were $0.85 higher, closing at $115.35 per cwt. Estimated cattle harvest for the week totaled 338,000 head up 3,000 from last week and 9,000 from last year’s total. For the time period of June 13-19 the USDA NASS Field Office reported that Range and pasture continued to benefit from adequate moisture. Livestock were generally in good condition, however, in areas of the Northern High Plains and Northeast Texas barn and horn flies populations were increasing. Stock tanks and ponds were at capacity in the Edwards Plateau and the Upper Coast.

Cotton prices were lower with cash prices losing 1.25 cents to close at 59.87 cents per pound and July futures losing 1.45 cents to close at 62.94 cents per pound. The USDA NASS Field Office reported that In areas of South Texas, cotton was beginning the squaring stage.

Corn prices were lower July corn futures losing $0.03 to close at $3.93 per bushel. Grain Sorghum cash prices were lower, losing $0.09 to close at $5.87 per cwt. the USDA NASS Field Office reported that Corn continued to progress favorably in many areas of the Blacklands and South Texas, while standing water caused some corn fields to yellow in Northeast Texas. In South Texas, sorghum continued to mature at a rapid pace and preparation for harvest continued in the Lower Valley. Some producers began to see damage on sorghum from the sugarcane aphid in areas of the Blacklands and the Coastal Bend.

Wheat prices were lower with July wheat futures losing $0.02 to close at $4.33 per bushel. The USDA NASS Field Office reported that winter wheat harvest was in full swing across most of the state. Harvest was temporarily halted in some locations due to rain and wet fields. In the Northern High Plains, winter wheat harvest was in beginning stages. Harvest and grazing of wheat continued in the Southern Low Plains.

Milk prices were lower with June Class III Milk futures losing $0.01 to close at $13.22 per cwt.

Stock Markets were lower today, ahead of the upcoming “Brexit” vote. Crude oil prices were lower, with August crude oil futures losing $0.24 to close at 49.13 per barrel.

Daily Market Summary Data 06/22/16

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