Texas Daily Ag Market News Summay 09/01/16

Posted 8 years 87 days ago by

Feeder cattle auctions reported prices $3 to $10 lower; Futures lower.

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

Cotton higher.

Grains and Soybeans higher.

Milk futures steady.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $10 lower. Feeder cattle futures were $3.22 lower, closing at $137.30 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing $110.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $0.75 to close at $195.74 per cwt and select grade losing $1.22 to close at $188.49 per cwt. Fed cattle futures were $8.36 lower, closing at $103.59 per cwt. Estimated slaughter for the week totaled 450,000 down 1,000 from last week’s total and up 7,000 from last year’s total.

Cotton prices were higher with cash prices gaining 2.75 to close at 65.62 cents per pound and October futures gaining 2.69 cents to close at 68.01 cents per pound.

Corn prices were higher with cash prices gaining $0.19 to close at $3.19 per bushel and September corn futures gaining $0.09 to close at $3.11 per bushel. Grain Sorghum cash prices were higher, gaining $0.25 to close at $4.62 per cwt.

Wheat prices were higher with cash prices gaining $0.10 to close at $2.96 per bushel and September futures gaining $0.09 to close at $3.80 per bushel.

Milk prices were higher with August Class III Milk futures gaining $0.31 to close at $16.77 per cwt.

Stock Markets were slightly higher today, as investors await the release of Friday’s jobs report. Crude oil prices were lower, with October crude oil futures losing $1.54 to close at $43.16 per barrel.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with 10.14 percent of Texas still in some stage of drought intensity, down 4.79 percentage points from last week. Additionally, 0.16 percent of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions worsened slightly, with 45.08 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 0.29 percentage points from last week.

Daily Market Summary Data 09/01/16

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