Texas Daily Ag Market News Summary 06/20/17

Posted 7 years 160 days ago by

Feeder cattle auctions lower; Futures lower.

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

Cotton prices lower.

Grains and soybeans mixed.

Milk futures lower.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $4 lower. August Feeder cattle futures were $1.08 lower, to close at $143.92 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. July Fed cattle futures were 20 cents lower, closing at $115.90 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $2.47 to close at $246.99 per cwt and Select grade losing $1.48 to close at $219.88 per cwt. Estimated cattle harvest for the week totaled 231,000 down 3,000 from last week’s total and up 9,000 from a year ago. Year-to-date harvest is up 4.1%. For the time period of June 12-18 the USDA NASS Field Office reported that livestock was mostly in good condition across the state. Pasture and range condition were rated mostly fair to good. However, conditions were declining fast in areas of the Lower Valley, the Low Plains and Central and South Texas, raising the threat of wildfires.

Cotton prices were lower with cash prices losing 0.50 cents to close at 68.25 cents per pound and July futures losing 0.04 cents to close at 71.35 cents per pound. The USDA NASS Field Office reported hail and slow emergence of cotton were seen in some areas of the Southern High Plains. Cotton in South Texas had begun setting bolls. Spider mites were seen in cotton fields of the Blacklands.

Corn prices were lower with cash prices losing 6 cents to close at $3.69 per bushel and July futures losing 5 cents to close at $3.70 per bushel. Grain Sorghum cash prices were 10 cents lower, closing at $5.56 per cwt. The USDA NASS Field Office reported that corn producers in the Southern High Plains were concerned with the adverse effect high temperatures could have on pollination. Some corn producers sprayed for rust in the Upper Coast. In South Texas, corn was maturing and sorghum was turning color. Producers in South Texas and the Lower Valley were expecting to start sorghum harvest in the next two weeks. Sorghum was being planted behind wheat in the Northern High Plains. Heat stress on sorghum was reported in the Blacklands, the Trans-Pecos and the Southern High Plains.

Wheat prices were higher with cash prices gaining 4 cents to close at $4.18 per bushel and July futures gaining 2 cents to close at $4.75 per bushel. The USDA NASS Field Office reported that wheat harvest continued in areas of the Plains, the Blacklands and North East Texas. Small grain harvest was nearing completion in most of the state, while areas of the Northern High Plains progressed quickly.

Milk prices were lower with July Class III milk futures losing 25 cents to close at $15.97 per cwt.

Stock markets closed lower today, after crude oil prices fell to their lowest level since September, dragging the energy sector and Major U.S. indexes down in the process. July Crude oil futures were 97 cents lower, closing at $43.23 per barrel.

Daily Market News Summary Data 06/20/17

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