Texas Daily Ag Market News Summary 10/06/16

Posted 8 years 52 days ago by

Feeder cattle auction reported prices $5 to $12 lower; Futures higher.

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

Cotton futures lower.

Grains and soybeans mixed.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions quoted prices $5 to $12 lower. October Feeder cattle futures were $0.37 higher, closing at $127.82 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were $0.10 higher, closing at $102.95 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $0.62 to close at $183.48 and Select grade losing $1.20 to close at $175.06. Estimated cattle harvest for the week totaled 446,000 head down 6,000 from last week’s total, and up 11,000 from a year ago. Year-to-date harvest is up 2.5%.

Cotton prices were uneven today with cash prices remaining at 66.37 cents per pound and October futures losing 0.32 cents to close at 67.71 cents per pound.

Corn prices were lower with cash prices and December futures prices both losing $0.07 to close at $3.36 per bushel and $3.41 per bushel, respectively. Grain Sorghum cash prices were lower, losing $0.12 to close at $4.96 per cwt.

Wheat prices were lower with cash and December futures both losing $0.10 to close at $2.95 per bushel and $4.05 per bushel, respectively.

Milk prices were higher with October Class III futures gaining $0.13 to close at $15.04 per cwt.

Stock markets closed slightly lower today, as we await the release of Friday’s jobs report. November Crude oil futures were $0.61 higher, closing at $50.44 per barrel.

Daily Market News Summary Data 10/06/16

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