2017

Posted 7 years 242 days ago by

Feeder cattle auction reported higher prices; Futures lower.

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

Cotton futures higher.

Grains and soybeans lower.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $4 higher. March Feeder cattle futures were 63 cents lower, closing at $132.67 per hundredweight (cwt). The Texas fed cattle cash was lower, losing $1.31 to close at $126.90 per cwt. April Fed cattle futures were $1.35 lower, closing at $120.00 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.71 to close at $215.21 per cwt and Select grade losing $2.21 to close at $208.05 per cwt. Estimated cattle harvest for the week totaled 456,000 down 7,000 from last week’s total and up 27,000 from a year ago. Year-to-date harvest is up 6.3%.

Cotton prices were mixed with cash prices remaining at 74.75 cents per pound and May futures gaining 0.09 cents to close at 76.23 cents per pound.

Corn prices were lower with cash and May futures both losing a penny to close at $3.52 per bushel and $3.58 per bushel, respectively. Grain Sorghum cash prices were 3 cents lower, closing at $5.26 per cwt.

Wheat prices were lower with cash and May futures both losing 7 cents to close at $3.32 per bushel and $4.17 per bushel, respectively.

Milk prices were higher with April Class III milk futures gaining 14 cents to close at $15.33 per cwt.

Stock markets closed higher today, bouncing back from their biggest weekly drop in several months, as a rise in financial shares picked up major U.S. indexes. May Crude oil futures were 84 cents higher, closing at $50.35 per barrel. Crude oil prices rose over $50 a barrel for the first time in over three weeks as it is expected that OPEC with continue to increase their production cutting agreement combined with the expectations that U.S. stock piles will fall from record highs posted earlier this month.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with 44.94 percent of Texas still in some stage of drought intensity, down 1.60 percentage points from last week. On the national level, drought conditions improved slightly as well, with 35.59 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 0.63 percentage points from last week.

DailyMarket News Summary Data 03/30/17

If you are interested in receiving this daily report, please subscribe here.