Texas Daily Ag Market News Summary 07/21/16

Posted 8 years 129 days ago by

Feeder cattle auctions reported $2 to $7 lower; Futures lower.

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

Cotton higher.

Grains and Soybeans mixed.

Milk futures lower.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $2 to $7 lower, with instances of steady to $3 higher. Feeder cattle futures were $4.22 lower, closing at $134.40 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $0.61 to close at $200.70 per cwt and select grade losing $1.19 to close at $189.82 per cwt. Fed cattle futures were $1.90 lower, closing at $107.52 per cwt. Estimated slaughter for the week totaled 449,000 on par with last week’s total and up 14,000 from last year’s total.

Cotton prices were higher with cash prices gaining 0.75 cents to close at 70.12 cents per pound and October futures gaining 0.71 cents to close at 72.66 cents per pound.

Corn prices were lower, with cash and futures prices both losing $0.04 to close at $3.27 per bushel and $3.34 per bushel, respectively. Grain Sorghum cash prices were lower, losing $0.07 to close at $4.79 per cwt.

Wheat prices were higher with cash and futures prices both gaining $0.01 to close at $3.14 per bushel and $4.08 per bushel, respectively.

Milk prices were lower with July Class III Milk futures losing $0.06 to close at $15.27 per cwt.

Stock Markets were lower today, ending a nine-day winning streak that pushed major indexes to new highs. Crude oil prices were higher, with September crude oil futures losing $0.19 to close at $44.75 per barrel.

Daily Market Summary Data 07/21/16

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This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 13.12 percent of Texas still in some stage of drought intensity, up 7.09 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved, with 55.46 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 3.72 percentage points from last week.