Texas Daily Ag Market News Summary 06/29/16

Posted 8 years 151 days ago by

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

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

Cotton mixed.

Grains and Soybeans lower.

Milk futures steady.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $7 higher, with one instance of $6 to $12 lower. Feeder cattle futures were $2.38 higher, closing at $143.05 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade gaining $0.53 to close at $208.57 per cwt and select grade losing $0.56 to close at $195.88 per cwt. Fed cattle futures were $1.83 higher, closing at $118.90 per cwt. Estimated cattle harvest for the week totaled 337,000 head down 1,000 last week and 3,000 from last year’s total. Year-to-date harvest is down 0.8%.

Cotton prices were mixed with cash prices gaining 0.50 cents to close at 63.62 cents per pound and July futures losing 0.16 cents to close at 64.50 cents per pound.

Corn prices were lower with cash and July futures both losing $0.12 to close at $3.66 per bushel and $3.73 per bushel, respectively. Grain Sorghum cash prices were lower, losing $0.23 to close at $5.51 per cwt.

Wheat prices were lower with cash and July futures both losing $0.09 to close at $3.17 per bushel and $4.00 per bushel, respectively.

Milk prices were steady with June Class III Milk futures remaining at $13.23 per cwt.

Stock Markets were higher today, as fears of the “Brexit” have begun to subside, officially moving major US indexes into the positive for 2016. Crude oil prices were higher, with August crude oil futures gaining $2.03 to close at $49.88 per barrel.

Daily Market Summary Data 06/29/16

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