Texas Daily Ag Market News Summary 10/25/16

Posted 8 years 33 days ago by

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

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

Cotton prices lower.

Grains and soybeans uneven.

Milk futures higher.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $6 higher. October Feeder cattle futures were $0.82 lower, closing at $121.55 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were $0.40 lower, closing at $102.72 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $1.09 to close at $182.07 per cwt and Select grade gaining $1.75 to close at $168.92 per cwt. Estimated cattle harvest for the week totaled 228,000 head down 2,000 from last week’s total, and up 5,000 from a year ago. Year-to-date harvest is up 2.3%. For the time period of October 17-23 the USDA NASS Field Office reported that livestock remained in good condition throughout most of the state, while range and pasture conditions began to suffer across many areas of the state due to lack of rainfall. Pond levels continued to decline in areas of North East Texas

Cotton prices were lower with cash prices losing 0.25 cents to close at 67.87 cents per pound and December futures losing 0.28 cents to close at 68.49 cents per pound. The USDA NASS Field Office reported that cotton harvest continued across the state with many fields defoliated and ready for picking.

Corn prices were higher with cash and December futures gaining $0.01 to close at $3.45 per bushel and $3.49 per bushel, respectively. Grain Sorghum cash prices were higher, gaining $0.01 to close at $5.11 per cwt. The USDA NASS Field Office reported that corn, sorghum, and soybeans harvest was in full swing. Sugar cane aphids continued to damage some sorghum fields in areas of the Northern High Plains.

Wheat prices were uneven with cash prices losing $0.02 to close at $3.06 per bushel and December futures gaining $0.01 to close at $4.14 per bushel. The USDA NASS Field Office reported that seeding of winter wheat continued throughout the state last week. Insect problems continue to affect some wheat producers in areas of the Northern High Plains, the Blacklands, and South Texas. Winter wheat planted was at 67 percent, 2 points above previous year and 3 points below normal.

Milk prices were higher with October Class III futures gaining $0.03 to close at $14.73 per cwt.

Stock markets were lower today, after more companies released disappointing earnings reports, a sharp reversal from yesterday’s outlook. December Crude oil futures were $0.56 lower, closing at $49.96 per barrel.

Daily Market News Summary Data 10/25/16

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