Texas Daily Ag Market News Summary 07/19/16

Posted 8 years 131 days ago by

Feeder cattle auctions reported steady prices; Futures lower.

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

Cotton lower.

Grains and Soybeans lower.

Milk futures higher.

Crude oil lower; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported steady prices. Feeder cattle futures were $1.27 lower, closing at $139.90 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade losing $0.29 to close at $202.28 per cwt and select grade gaining $1.25 to close at $192.36 per cwt. Fed cattle futures were $2.05 lower, closing at $110.40 per cwt. Estimated slaughter for the week totaled 223,00 head down 4,000 from last week and up 5,000 from last year’s total. For the time period of July 11-17 the USDA NASS Field Office reported that cattle remained in good condition throughout the state, although range and pasture conditions suffered due to lack of precipitation in areas across Southern and Central Texas. Active wildfires were reported in areas of the Northern Low Plains.

Cotton prices were lower with cash prices losing 0.75 cents to close at 70.37 cents per pound and October futures losing 0.67 cents to close at 72.96 cents per pound. The USDA NASS Field Office reported that irrigation of row crops remained active across much of the state. Cotton continued to make progress, although some cotton producers reported hail damage in areas of the Northern Low Plains.

Corn prices were lower, with cash prices losing $0.14 to close at $3.36 per bushel and September futures losing $0.16 to close at $3.41 per bushel. Grain Sorghum cash prices were lower, losing $0.25 to close at $4.96 per cwt. The USDA NASS Field Office reported that corn harvest was active in areas of the Coastal Bend, the Upper Coast, North East, South Central, and South Texas. Sorghum and soybeans continued to develop, with some reports of sugarcane aphids affecting some sorghum fields in areas of the Southern Low Plains.

Wheat prices were lower with cash prices losing $0.08 to close at $3.15 per bushel and September wheat futures losing $0.09 to close at $4.11 per bushel. The USDA NASS Field Office reported that the winter wheat harvest near completion in areas of the Cross Timbers.

Milk prices were higher with July Class III Milk futures gaining $0.02 to close at $15.34 per cwt.

Stock Markets were higher today, marking the eighth consecutive session of positive growth Crude oil prices were lower, with August crude oil futures losing $0.59 cents to close at $44.65 per barrel.

Daily Market Summary Data 07/19/16

If you are interested in receiving this daily report, please subscribe here.