Texas Daily Ag Market News Summary 08/04/16

Posted 8 years 115 days ago by

Feeder cattle auctions reported prices steady to $12 higher; Futures higher.

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

Cotton higher.

Grains and Soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $12 higher. Feeder cattle futures were $0.10 higher, closing at $147.57 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $118.00 per cwt. Whole sale boxed beef values were mixed with choice grade gaining $0.06 to close at $199.26 per cwt and select grade losing $0.81 to close at $190.85 per cwt. Fed cattle futures were $0.43 lower, closing at $116.32 per cwt. Estimated slaughter for the week totaled 449,000 down 2,000 from last week’s total and up 22,000 from last year’s total.

Cotton prices were higher with cash prices gaining 1.12 cents to close at 73.37 cents per pound and October futures gaining 2.02 cents to close at 75.86 cents per pound.

Corn prices were lower with cash prices losing $0.06 to close at $3.13 per bushel and September futures losing $0.04 to close at $4.06 per bushel. Grain Sorghum cash prices were lower, losing $0.10 to close at $4.55 per cwt.

Wheat prices were lower with cash prices losing $0.03 to close at $3.13 per bushel and September futures losing $0.06 to close at $4.06 per bushel.

Milk prices were steady with August Class III Milk futures losing $0.03 to close at $16.99 per cwt.

Stock Markets were steady today, in international markets the Bank of England announced a very aggressive stimulus package aimed at reviving the U.K economy after the “Brexit” vote. Crude oil prices were higher, with September crude oil futures gaining $1.24 to close at $41.93 per barrel.

This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 34.65% of Texas still in some stage of drought intensity, up 2.32 percentage points from last week. Additionally, up 0.64 of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions worsened slightly as well, with 50.93% of the U.S. experiencing abnormal dryness or some degree of drought, up 0.78 percentage points from last week.

Daily Market Summary Data 08/04/16

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