Texas Daily Ag Market News Summary 07/28/16

Posted 8 years 122 days ago by

Feeder cattle auctions reported $4 to $10 lower; Futures higher.

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

Cotton lower.

Grains and Soybeans mixed.

Milk futures steady.

Crude oil lower; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices $4 to $10 lower. Texas Weekly Direct reported prices steady to $4 lower. Feeder cattle futures were $2.80 higher, closing at $137.20 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 $200.09 per cwt and select grade losing $0.25 to close at $189.57 per cwt. Fed cattle futures were $2.43 higher, closing at $109.95 per cwt. Estimated slaughter for the week totaled 561,000 up 5,000 from last week’s total and up 33,000 from last year’s total.

Cotton prices were lower with cash prices losing 0.25 cents to close at 69.87 cents per pound and October futures losing 0.14 cents to close at 72.52 cents per pound.

Corn prices were higher with cash prices gaining $0.02 to close at $3.29 per bushel and September futures gaining $0.01 to close at $3.35 per bushel. Grain Sorghum cash prices were higher, gaining $0.04 to close at $4.83 per cwt.

Wheat prices were higher with cash prices gaining $0.09 to close at $3.23 per bushel and September futures gaining $0.11 to close at $4.19 per bushel.

Milk prices were steady with July Class III Milk futures remaining at $15.27 per cwt.

Stock Markets were higher today, pushing the S&P 500 index to another record closing. Crude oil prices were lower, with September crude oil futures losing $0.56 to close at $44.19 per barrel.

This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 36.97 percent of Texas still in some stage of drought intensity, up 23.85 percentage points from last week. Additionally, 0.18 percent of the state remains in severe, extreme, or exceptional drought, up 0.18 percentage points from last week. On the national level, drought conditions worsened as well, with 52.34 percent of the U.S. experiencing abnormal dryness or some degree of drought, up 3.27 percentage points from last week.

Daily Market Summary Data 07/28/16

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