Texas Daily Ag Market News Summary 07/06/16

Posted 8 years 144 days ago by

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

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

Cotton higher.

Grains and Soybeans mixed.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions were inactive due to holiday. Feeder cattle futures were $0.50 higher, closing at $144.57 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $0.25 to close at $209.08 per cwt and select grade gaining $2.14 to close at $196.93 per cwt. Fed cattle futures were $0.85 lower, closing at $112.80 per cwt. Estimated slaughter for the week totaled 111,000 head down 2,000 from last week and up 1,000 from last year. For the time period of June 27 – July 3 the USDA NASS Field Office reported Range and pasture were beginning to show signs of stress but were still in mostly good condition. Ponds and stock tanks remained at capacity statewide and livestock were in good condition overall. In the Northern Low Plains, the Upper Coast, and South Texas, livestock producers reported an abundance of forage still available for grazing on native range and pastures.

Cotton prices were higher with cash prices gaining 0.50 cents to close at 62.87 cents per pound and July futures gaining 0.03 cents to close at 63.78 cents per pound. The USDA NASS Field Office reported cotton was at the squaring stage in areas of the Southern Plains and was setting bolls in South Texas.

Corn prices were lower with July futures losing $0.08 to close at $3.36 per bushel. The USDA NASS Field Office reported corn was at the denting stage and drying out in areas of the Blacklands and South Texas. Sorghum progressed well and reached the coloring stage in areas of South Texas.

Wheat prices were lower with July futures losing $0.01 to close at $4.01 per bushel. The USDA NASS Field Office reported winter wheat harvest neared completion throughout the state. Wheat and oat crops in areas of the Cross Timbers were abandoned due to heavy rainfall received in late June.

Milk prices were higher with July Class III Milk futures gaining $0.17 to close at $15.14 per cwt.

Stock Markets were higher today, as markets are continuing to recover from the uncertainty caused by U.K’s “Brexit” vote. Crude oil prices were higher, with August crude oil futures gaining $0.83 to close at $47.43 per barrel.

Daily Market Summary Data 07/06/16

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