Texas Daily Ag Market News Summary 07/26/16

Posted 8 years 124 days ago by

Feeder cattle auctions reported prices steady to $2 higher; Futures higher.

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

Cotton higher.

Grains and soybeans mixed.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock slightly higher.

Texas feeder cattle auctions reported prices steady to $2 higher, with one instance of steady to $2 lower. Feeder cattle futures were $0.75 higher, closing at $142.45 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $1.34 to close at $199.93 per cwt and select grade gaining $1.38 to close at $190.82 per cwt. Fed cattle futures were $0.92 higher, closing at $113.87 per cwt. Estimated cattle harvest for the week totaled 224,000 head up 1,000 from last week and 11,000 from last year’s total. For the time period of July 18-24 the USDA NASS Field Office reported Cattle remained in mostly good condition across the state. However, most areas of the state reported lowering stock pond levels, as well as, declining range and pasture conditions. The lack of moisture has also raised wildfire concerns in areas Cross Timbers, the Edwards Plateau and South Texas.

Cotton prices were higher with cash prices gaining 1.63 cents to close at 71.00 cents per pound and October futures gaining 1.51 cents to close at 73.63 cents per pound. The USDA NASS Field Office reported with continued sparse precipitation across the state row crop irrigation remained active as cotton continued to make progress. Some cotton and corn producers reported hail damage in isolated areas of the Southern High Plains.

Corn prices were lower with cash prices losing $0.03 to close at $3.25 per bushel and September corn futures losing $0.02 to close at $3.33 per bushel. Grain Sorghum cash prices were lower, losing $0.04 to close at $4.77 per cwt. The USDA NASS Field Office reported corn harvest was active in areas of the Lower Valley, the Upper Coast, South Central, and South Texas. Sorghum and soybeans continued to progress with sorghum harvest being active in areas of the Blacklands, the Coastal Bend, the Upper Coast, and South Texas.

Wheat prices were lower with cash and September futures prices both losing $0.11 to close at $3.16 per bushel and $4.12 per bushel. The USDA NASS Field Office reported winter wheat producers in areas of the Northern Low Plains and Southern High Plains were concerned with low moisture levels heading into the planting season.

Milk prices were higher with July Class III Milk futures losing $0.03 to close at $15.27 per cwt.

Stock markets were slightly higher today, but the Dow Jones Industrial Average was dragged down by disappointed earnings reports. Crude oil prices were lower, with September crude oil futures losing $0.21, to close at $42.92 per barrel.

Daily Market Summary Data 07/26/16

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