Texas Daily Ag Market News Summary 09/15/16

Posted 8 years 73 days ago by

Feeder cattle auctions reported prices steady to $7 lower; Futures higher.

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

Cotton higher.

Grains and Soybeans mixed.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $7 lower. September Feeder cattle futures were $1.30 higher, closing at $133.97 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade gaining $0.47 to close at $186.27 per cwt and select grade losing $1.49 to close at $178.83 per cwt. October Fed cattle futures were $1.15 higher, closing at $106.95 per cwt. Estimated slaughter for the week totaled 442,000 head, up 98,000 from last week’s total and down 8,000 from last year. Year-to-date harvest is down 1.8%.

Cotton prices were higher with cash prices gaining 0.25 cents to close at 66.62 cents per pound and October futures gaining 0.30 cents to close at 68.38 cents per pound.

Corn prices were mixed with cash prices losing $0.02 to close at $3.25 per bushel and December futures gaining $0.02 to close at $3.30 per bushel. Grain Sorghum cash prices were lower, losing $0.03 to close at $4.77 per cwt.

Wheat prices were mixed with cash prices losing $0.02 to close at $3.06 per bushel and December futures gaining $0.02 to close at $4.16 per bushel.

Milk prices were lower with September Class III Milk futures losing $0.04 to close at $16.41 per cwt.

Stock Markets were higher today, brought up by recent gains in technology shares. Crude oil prices were higher, with October crude oil futures gaining $0.33 to close at $43.91 per barrel.

This week’s U.S. Drought Monitor for Texas showed improvement in drought conditions for the state, with only 3.78 percent of Texas still in some stage of drought intensity, down 3.76 percentage points from last week. Additionally, 0.09% of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions worsened slightly, with 44.20 percent of the U.S. experiencing abnormal dryness or some degree of drought, up 0.20 percentage points from last week.

Daily Market Summary Data 09/15/16

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