Texas Daily Ag Market News Summary 02/14/17

Posted 7 years 286 days ago by

Feeder cattle auction reported steady prices; Futures higher.

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

Cotton futures lower.

Grains and soybeans lower.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported steady prices. March Feeder cattle futures were $2.18 higher, closing at $124.00 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. February Fed cattle futures were $1.45 higher, closing at $117.37 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 10 cents to close at $188.36 per cwt and Select grade gaining 67 cents to close at $187.25 per cwt. Estimated cattle harvest for the week totaled 226,000 up 5,000 from last week’s total and 23,000 from a year ago. Year-to-date harvest is up 11.4%. For the time period of February 6-12 the USDA NASS Field Office reported that supplemental feeding was active across the state. Livestock were in good condition. Pastures in the Northern part of the state improved, while conditions continued to decline in Southern areas.

Cotton prices were mixed with cash prices holding steady to remain at 73.25 cents per pound and March futures losing 0.29 cents to close at 76.32 cents per pound. The USDA NASS Field Office reported that field work in preparation for cotton planting continued in areas of the Blacklands.

Corn prices were lower with cash prices losing a penny to close at $3.69 per bushel and March futures losing 2 cents to close at $3.74 per bushel. The USDA NASS Field Office reported that corn crop preparations continued in areas of North East Texas, South Central Texas, and the Upper Coast. Grain Sorghum cash prices ended a penny lower, closing at $5.61 per cwt.

Wheat prices were lower with cash and March futures both losing 2 cents to close at $3.57 per bushel and $4.65 per bushel, respectively. The USDA NASS Field Office reported that winter wheat was in need of moisture in areas of the Low and High Plains. Some producers in the Northern Plains began irrigation.

Milk prices were higher with February Class III gaining a penny to close at $16.88 per cwt.

Stock markets closed higher today, reaching fresh new highs, as investors sold off bonds and picked up stocks on renewed optimism surrounding US economy after the Federal Reserve chief signaled the potential of an interest rate increase. March Crude oil futures were 27 cents higher, closing at $53.20 per barrel. Crude oil prices rose after new data released showed that OPEC is in 90% compliance with their original production cutting measures.

DailyMarket News Summary Data 02/14/17

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