Texas Daily Ag Market News Summary 07/19/17

Posted 7 years 131 days ago by

Feeder cattle auctions higher; Futures higher.

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

Cotton futures lower.

Grains and soybeans uneven.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $6 higher. August Feeder cattle futures were $2.90 higher, closing at $154.50 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $118.37. August Fed cattle futures were $2.20 higher, closing at $117.27 per cwt. Wholesale boxed beef values were uneven, with Choice grade losing 32 cents to close at $207.73 per cwt and Select grade gaining 24 cents to close at $195.49 per cwt. Estimated cattle harvest for the week totaled 347,000 down 10,000 from last week’s total and up 11,000 from a year ago. Year-to-date harvest is up 3.3%. For the time period of July 10-16 the USDA NASS Field Office reported that livestock was in good condition throughout the state. Horn flies continued to be an issue in North East Texas. Supplemental feeding continued in the Lower Valley. Range and pasture conditions remained fair to good across the state. The lack of rain and hot weather in the Panhandle were causing a decline in the pastures conditions.

Cotton prices were uneven with cash prices remaining 67.25 cents per pound and October futures losing 0.10 cents to close at 68.76 cents per pound. The USDA NASS Field Office reported early cotton fields in the High Plains were blooming. Some cotton fields in the Plains were behind in terms of growth. Producers in the Blacklands took advantage of the weather to do field work. Cotton was being heavily irrigated in areas of South East Texas. Cotton was filling bolls and progressing toward maturity in the Lower Valley and South Texas.

Corn prices were higher with cash prices gaining 11 cents to close at $3.83 per bushel and September futures gaining 6 cents to close at $3.83 per bushel, as well. The USDA NASS Field Office reported that corn was in the tassel stage in the Northern High Plains. Corn harvest was rapidly approaching in the Cross Timbers, Balcklands South Central and South Texas. Sorghum harvest was underway in the Blacklands and continued in the Coastal Bend, Upper Coast, South Texas, and the Lower Valley.

Wheat prices were lower with cash prices losing a penny to close at $4.33 per bushel and September wheat futures losing 3 cents to close at $5.00 per bushel. The USDA NASS Field Office reported that producers were plowing wheat residue in areas of the Northern High Plains.

Milk prices were lower with July Class III losing 10 cents to close at $16.55 per cwt.

Stock markets were higher today. All three major U.S. indexes close at new record highs behind big gains in health-care and technology shares. August Crude oil futures were 72 cents higher, closing at $47.12 per barrel. Crude oil prices climbed to a six-week high as data released from the U.S government showed a sharp decline in U.S. crude oil inventories.

Daily Market News Summary Data 07/19/17

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