Texas Daily Ag Market News Summary 08/03/16

Posted 8 years 116 days ago by

Feeder cattle auctions reported prices steady to $6 higher; Futures higher.

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

Cotton higher.

Grains and Soybeans higher.

Milk futures steady.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $6 higher. Feeder cattle futures were $2.00 higher, closing at $147.47 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $0.80 to close at $199.20 per cwt and select grade gaining $0.20 to close at $191.66 per cwt. Fed cattle futures were $0.53 higher, closing at $116.75 per cwt. Estimated slaughter for the week totaled 336,000 on par with last week’s total and up 19,000 from last year’s total. For the timer period of July 25-31 the USDA NASS Field Office reported Range and pastures conditions across the state declined slightly due to heat stress and windy conditions, but overall were rated as 75 percent fair to good. Hay baling was active in many areas last week. Livestock remained in mostly good condition throughout the state.

Cotton prices were higher with cash prices gaining 0.88 cents to close at 72.25 cents per pound and October futures gaining 0.17 cents to close at 73.84 cents per pound. The USDA NASS Field Office reported Cotton development continued to progress ahead of normal across most of the state. In the Coastal Bend and Lower Valley, producers were defoliating cotton and beginning to harvest. Cotton bolls were opening in the Upper Coast and South Texas.

Corn prices were higher with cash prices and September futures both gaining $0.01 to close at $3.19 per bushel and $3.25 per bushel, respectively. Grain Sorghum cash prices were higher gaining $0.02 to close at $4.65 per cwt. The USDA NASS Field Office reported In the Southern Plains, the Blacklands, and Edwards Plateau sorghum was maturing and getting ready for harvest. Sugarcane aphid populations continued to be a concern for sorghum producers in the High Plains and Blacklands. Corn harvest continued in the Upper Coast and South Texas.

Wheat prices were higher with cash prices gaining $0.03 to close at $3.16 per bushel and September futures gaining $0.05 to close at $4.12 per bushel.

Milk prices were steady with August Class III Milk futures remaining at $17.02 per cwt.

Stock Markets were higher today, snapping a 7-day losing streak for the Dow Jones, as a rise in oil prices brought up energy shares and major US indexes along with them. Crude oil prices were higher, with September crude oil futures gaining $1.81 to close at $40.69 per barrel.

Daily Market Summary Data 08/03/16

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