Texas Daily Ag Market News Summary 11/29/16

Posted 7 years 363 days ago by

Feeder cattle auctions reported prices steady to $5 higher; Futures higher.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. January Feeder cattle futures were $0.17 higher, closing at $126.97 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. December Fed cattle futures were $0.38 lower, closing at $108.92 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $1.56 to close at $189.56 per cwt and Select grade gaining $0.13 to close at $172.88 per cwt. Estimated cattle harvest for the week totaled 230,000 head down 2,000 from last week’s total and up 15,000 from a year ago. Year-to-date harvest is up 6.9%. For the time period of November 21-27 the USDA NASS Field Office reported that livestock were in good condition with plenty of grazing available and minimal supplemental feeding. Range and pasture conditions were declining in areas of South Texas and the Lower Valley due to lack of moisture.

Cotton prices were lower with cash prices losing 0.80 to close at 69.82 cents per pound and December futures losing 0.89 cents to close at 72.38 cents per pound. The USDA NASS Field Office reported that cotton harvest was ongoing in the Plains and the Trans-Pecos, and finishing up in areas of the Edwards Plateau.

Corn prices were lower with cash prices losing $0.09 to close at $3.35 per bushel and December futures losing $0.12 cents to close at $3.37 per bushel. Grain Sorghum cash prices were lower, losing $0.15 to close at $4.95 per cwt. The USDA NASS Field Office reported that harvest of row crops was nearing completion in most parts of the state.

Wheat prices were lower with cash prices losing $0.09 to close at $2.95 per bushel and December futures losing $0.13 to close at $3.99 per bushel. The USDA NASS Field Office reported that winter wheat seeding was starting to wind down in most areas of the state.

Milk prices were lower with December Class III futures losing $0.01 to close at $16.92 per cwt.

Stock markets were higher today, as gains in health-care shares edged out losses in the energy sector. January Crude oil futures were $1.85 lower, closing at $45.23 per barrel. Oil prices fell to a two-week low after recent confidence that the OPEC nations would come to an agreement have begun to pull back.

Daily Market News Summary Data 11/29/16

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