Texas Daily Ag Market News Summayr 07/13/17

Posted 7 years 137 days ago by

Feeder cattle auctions higher; Futures higher.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $1 to $5 higher. August Feeder cattle futures were $1.27 higher, closing at $153.02 per hundredweight (cwt). The Texas fed cattle cash trade was higher today, gaining 40 cents to close at $120.00 per cwt. August Fed cattle futures were 45 cents lower, closing at $117.42 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $2.81 to close at $209.88 per cwt and Select grade losing $1.47 to close at $197.26 per cwt. Estimated cattle harvest for the week totaled 475,000 up 126,000 from last week’s total and 27,000 from a year ago. Year-to-date harvest is up 6.0%.

Cotton prices were lower with cash prices losing 1.50 cents to close at 65.00 cents per pound and October futures losing 1.59 cents to close at 66.54 cents per pound.

Corn prices were lower with cash prices losing 20 cents to close at $3.60 per bushel and July futures losing 15 cents to close at $3.51 per bushel. Grain Sorghum cash prices were 22 cents lower, remaining at $5.43 per cwt.

Wheat prices were lower with cash prices losing 26 cents to close at $4.49 per bushel and July futures losing 28 cents to close at $5.00 per bushel.

Milk prices were lower with July Class III losing 4 cents to close at $15.59 per cwt.

Stock markets were higher today, lifted by gains in technology and financial shares and pushing the Dow Jones to a new record high for the 24^th time this year. August Crude oil futures were 59 cents higher, closing at $46.08 per barrel. The rise in oil prices continued today after the International Energy Agency made a prediction that demand for crude would rise significantly over the next couple months.

This week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with 23.88 percent of Texas still in some stage of drought intensity, down 2.61 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought, down 0.01 percentage points from three months ago. On the national level, drought conditions worsened slightly, with 23.10 percent of the U.S. experiencing abnormal dryness or some degree of drought, up 0.75 percentage points from last week.

Daily Market News Summary Data 07/13/17

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