Texas Daily Ag Market News Summary 07/14/16

Posted 8 years 136 days ago by

Feeder cattle auctions reported prices $1 to $8 lower; Futures higher.

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

Cotton futures higher.

Grains and Soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $1 to $8 lower. Feeder cattle futures were $1.80 higher, closing at $141.07 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $0.19 to close at $205.00 per cwt and select grade losing $2.45 to close at $193.06 per cwt. Fed cattle futures were $1.27 higher, closing at $112.72 per cwt. Estimated slaughter for the week totaled 449,00 head up 122,000 from last week and 14,000 from last year’s total.

Cotton prices were mixed with cash prices remaining at 71.12 cents per pound and October futures gaining 0.44 cents to close at 73.82 cents per pound.

Corn prices were lower, with cash prices losing $0.06 to close at $3.50 per bushel and July futures losing $0.04 to close at $3.62 per bushel. Grain Sorghum cash prices were lower, losing $0.11 to close at $5.20 per cwt.

Wheat prices were lower with cash prices losing $0.04 to close at $3.22 per bushel and July wheat futures losing $0.02 to close at $4.06 per bushel.

Milk prices were higher with July Class III Milk futures gaining $0.10 to close at $15.34 per cwt.

Stock Markets were higher today, as banks reported better than expected earnings reports. Crude oil prices were lower, with August crude oil futures losing $0.93 to close at $45.68 per barrel.

Daily Market Summary Data 07/13/16

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This week’s U.S. Drought Monitor for Texas showed a slight worsening in drought conditions for the state, with 6.03% of Texas still in some stage of drought intensity, up 3.10 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with 44.24% of the U.S. experiencing abnormal dryness or some degree of drought, up 0.16 percentage points from last week.