2017

Posted 7 years 237 days ago by

Feeder cattle auction reported higher prices; Futures lower.

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

Cotton prices uneven.

Grains and soybeans uneven.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. April Feeder cattle futures were $2.05 lower, closing at $131.02 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were $1.20 lower, closing at $118.22 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.74 to close at $211.69 per cwt and Select grade losing 97 cents to close at $200.38 per cwt. Estimated cattle harvest for the week totaled 223,000 down 8,000 from last week’s total and up 2,000 from a year ago. Year-to-date harvest is up 0.9%. For the time period of March 20-26 the USDA NASS Field Office reported that livestock producers in the plains and the Blacklands were still supplementing cattle on range. Most of the cattle was in good condition. Although some of the pasture dried out due to the warm weather and strong winds, the pasture and range condition was rated mostly good to fair.

Cotton prices were uneven with cash prices gaining 0.25 cents to close at 73.75 cents per pound and May futures losing 0.62 cents to close at 74.85 cents per pound. The USDA NASS Field Office reported that cotton planting continued in the Lower Valley and the Upper Coast. Producers in the Northern districts of the state continued field preparations for cotton planting.

Corn prices were lower with cash prices losing 4 cents to close at $3.58 per bushel and May futures losing a nickel to close at $3.63 per bushel. Grain Sorghum cash prices were 8 cents lower, closing at $5.36 per cwt. The USDA NASS Field Office reported that corn planting continued across the state. Corn in the Blacklands was emerging and producers were fertilizing fields. Sorghum planting was underway in South Texas.

Wheat prices were higher with cash and May futures both gaining 3 cents to close at $3.37 per bushel and $4.22 per bushel, respectively. The USDA NASS Field Office reported that winter wheat was rated 72 percent fair to good. Some wheat fields in the Southern Low Plains showed signs of moisture stress, but the dry conditions extended to most of the Northern parts of the state, the Edwards Plateau and South Texas.

Milk prices were lower with April Class III milk futures losing 20 cents to close at $15.36 per cwt.

Stock markets closed higher today, lifted up by increases in manufacturing and energy shares. Big swings in U.S. indexes were muted as investors await the release of the minutes from the March Federal Reserve meeting, Friday’s jobs report and a meeting between President Trump and the Chinese leader Xi Jinping. May Crude oil futures were 79 cents higher, closing at $51.03 per barrel. Crude oil prices reached a four-week high as investors continue to bet that OPEC production cuts combined with the increase in demand associated with summer time will end the global oversupply of crude in the market and in turn stabilize prices.

DailyMarket News Summary Data 04/04/17

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