Texas Daily Ag Market News Summary 06/28/17

Posted 7 years 155 days ago by

• Feeder cattle auctions reported higher prices; Futures higher.
• Fed cattle cash trade inactive; Formula trades lower; Futures higher; Beef prices lower.
• Cotton prices lower.
• Grains and soybeans steady.
• Milk futures lower.
• Crude oil higher; Natural gas higher.
• Stock markets higher.

Cattle:
Texas feeder cattle auctions reported higher prices with instances of steady to $9 higher. August Feeder cattle futures were $4.58 higher, closing at $146.40 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. August Fed cattle futures were 50 cents higher, closing at $115.62 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $4.48 to close at $229.43 per cwt and Select grade losing $2.59 to close at $212.67 per cwt. Estimated cattle harvest for the week totaled 350,000 up 1,000 from last week’s total and 11,000 from a year ago. Year-to-date harvest is up 3.2%.

Cotton:
Cotton prices were lower with cash prices losing .25 cents to close at 68.75 cents per pound and July futures losing 0.03 cents to close at 74.41 cents per pound.

Corn and Grain Sorghum:
Corn prices were steady with cash prices remaining at $3.59 per bushel, while futures lost 2 cents, closing at $3.57 per bushel. Grain Sorghum cash prices were steady as well, remaining at $5.38 per cwt.

Wheat:
Wheat prices were steady with cash prices remaining at $4.06 per bushel. July futures both gained 4 cents to close at $4.61 per bushel.

Milk:
Milk futures were lower with July Class III losing 6 cents to close at $15.82 per cwt.

Stock Markets and Crude Oil:
Stock markets were higher today, with the Dow-Jones Average gaining 144 points to close at 21,454. August Crude oil futures were 50 cents higher, closing at $44.74 per barrel. Crude prices have continued to rise as of late, despite that investors still see the overall mood surrounding oil markets as “down.”

Daily Market News Summary Data 06-28-17