2017

Posted 7 years 221 days ago by

Feeder cattle auction reported higher prices; Futures lower.

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

Cotton prices higher.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $7 higher. April Feeder cattle futures were 77 cents lower to close at $137.90 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were $1.70 higher, closing at $129.62 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 55 cents to close at $215.72 per cwt and Select grade gaining $1.57 to close at $203.57 per cwt. Estimated cattle harvest for the week totaled 339,000 down 4,000 from last week’s total and up 9,000 from a year ago. Year-to-date harvest is up 2.8%.

Cotton prices were higher with cash prices gaining 0.75 cents to close at 77.25 cents per pound and May futures gaining 2.40 cents to close at 80.07 cents per pound.

Corn prices were lower with cash and May futures both losing 4 cents to close at $3.52 per bushel and $3.58 per bushel, respectively. Grain Sorghum cash prices were 7 cents lower closing at $5.26 per cwt.

Wheat prices were lower with cash and May futures both losing 14 cents to close at $3.22 per bushel and $4.03 per bushel, respectively.

Milk prices were lower with April Class III milk futures losing 6 cents to close at $15.18 per cwt.

Stock markets bounced back from yesterday’s losses and finished the day in the green as investors bought up financial and industrial shares, after upbeat earnings reports were released combined with renewed hope in President Trumps Tax Plans. May Crude oil futures were 17 cents lower, closing at $50.27 per barrel. Crude oil prices closed slightly lower, stabilizing after yesterday’s steep losses after OPEC announced that they would extend their product cutting measures to combat rising production from the U.S.

This week’s U.S. Drought Monitor for Texas showed improving drought conditions for the state, with 9.70 percent of Texas still in some stage of drought intensity, down 5.56 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved very slightly, with 26.96 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 0.03 percentage points from last week.

Daily Market News Summary Data 04/20/17

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