2017

Posted 7 years 216 days ago by

Feeder cattle auction reported uneven prices; Futures higher.

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

Cotton futures higher.

Grains and soybeans uneven.

Milk futures steady.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported uneven prices with instances of steady to $6 higher and steady to $4 lower. April Feeder cattle futures were 48 cents higher to close at $138.73 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were 83 cents higher, closing at $129.83 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 94 cents to close at $219.61 per cwt and Select grade gaining $1.98 to close at $206.27 per cwt. Estimated cattle harvest for the week totaled 231,000 up 7,000 from last week’s and from a year ago. Year-to-date harvest is up 3.2%. For the time period of April 17-23 the USDA NASS Field Office reported that cattle were in mostly good condition across the state. Pasture and range condition was rated at 76 percent good to fair, unchanged from the previous week. Land owners in the Lower Valley bailed hay. Winter pastures in North East Texas were being cut for silage and hay. Feral hog activity has increased in pastures and hay meadows in North East Texas.

Cotton prices were uneven with cash prices remaining at 76.75 cents per pound and May futures gaining 0.62 cents to close at 80.71 cents per pound. The USDA NASS Field Office reported that cotton field preparation continued in the High Plains and the Edwards Plateau. Planting continued in the Blacklands, South East, South Central and South Texas. Cotton planted was estimated at 12 percent complete, one point above the previous week.

Corn prices were higher with cash prices gaining a nickel to close at $3.59 per bushel and May futures gaining 6 cents to close at $3.65 per bushel. Grain Sorghum cash prices were 10 cents higher to close at $5.39 per cwt. The USDA NASS Field Office reported that the wet weather conditions delayed planting of row crops in the central and eastern parts of the state.

Wheat prices were higher with cash prices gaining 11 cents to close at $3.32 per bushel and May futures gaining a dime to close at $4.12 per bushel. The USDA NASS Field Office reported that winter wheat condition was rated at 78 percent fair to good, the same as the previous week. Some winter wheat fields were damaged by hail in the Northern Plains and a few fields in the Blacklands had wheat lodging problems. Leaf rust continued to be an issue for some wheat producers in the Low Plains and the Blacklands.

Milk prices were steady with April Class III milk futures remaining at $15.20 per cwt.

Stock markets closed higher today behind better-than-expected corporate earnings reports. June Crude oil futures were 33 cents higher, closing at $49.56 per barrel. Crude oil prices reversed recent declines, but still remain below the $50 mark, as investors are still concerned about the global oversupply of crude oil.

Daily Market News Summary Data 04/25/17

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