2017

Posted 7 years 249 days ago by

Feeder cattle auction reported higher prices; Futures lower.

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

Cotton futures lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $1 to $5 higher. March Feeder cattle futures were 30 cents lower, closing at $133.70 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were 68 cents lower, closing at $121.77 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 72 cents to close at $222.28 per cwt and Select grade losing 3 cents to close at $215.77 per cwt. Estimated cattle harvest for the week totaled 463,000 up 3,000 from last week’s total and 29,000 from a year ago. Year-to-date harvest is up 6.7%.

Cotton prices were mixed with cash prices remaining at 75.50 cents per pound and May futures losing 0.07 cents to close at 77.27 cents per pound.

Corn prices were lower with cash prices losing 3 cents to close at $3.49 per bushel and May futures losing 2 cents to close at $3.57 per bushel. Grain Sorghum cash prices ended a nickel lower, finishing at $5.24 per cwt.

Wheat prices were lower with cash prices losing 4 cents to close at $3.38 per bushel and May futures losing a nickel to close at $4.28 per bushel.

Milk prices were lower with April Class III losing 36 cents to close at $15.05 per cwt.

Stock markets closed lower today, after being in the positive for most of the day, after the House Republicans postponed voting on a bill that essentially dismantles of the Affordable Care Act. May Crude oil futures were 34 cents lower, closing at $47.70 per barrel. Crude oil prices fell for the fourth-straight session as growing stockpiles continue to bring down prices, and in turn calling into question whether or not the worlds exporters will continue to stick with their production cutting agreement.

This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 46.54 percent of Texas in some stage of drought intensity, up 11.66 percentage points from last week. On the national level, drought conditions worsened as well, with 36.22 percent of the U.S. experiencing abnormal dryness or some degree of drought, up 4.36 percentage points from last week.

DailyMarket News Summary Data 03/23/17

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