Texas Daily Ag Market News Summary 07/26/17

Posted 7 years 124 days ago by

Feeder cattle auctions lower; Futures lower.

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

Cotton prices lower.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $7 lower. August Feeder cattle futures were 6 cents lower, closing at $146.47 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $117.51 per cwt. August Fed cattle futures were $1.12 higher, closing at $114.30 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 55 cents to close at $207.07 per cwt and Select grade losing $1.06 to close at $197.87 per cwt. Estimated cattle harvest for the week totaled 349,000 up 2,000 from last week’s total and 12,000 from a year ago. Year-to-date harvest is up 3.6%.

Cotton prices were lower with cash prices losing 0.50 cents to close at 66.75 cents per pound and October futures losing 0.53 cents to close at 69.02 cents per pound.

Corn prices were higher with cash and September futures prices both gaining 4 cents and both closing at $3.73 per bushel. Grain Sorghum cash prices were 7 cents higher, closing at $5.58 per bushel.

Wheat prices were higher with cash prices gaining 2 cents to close at $4.10 per bushel and September futures gaining 3 cents to close at $4.76 per bushel.

Milk prices were higher with August Class III gaining 7 cents to close at $16.38 per cwt.

Stock markets were higher today, continuing yesterday’s gains, after the Federal Reserve announced its decision to leave interest rates alone for a while longer. September Crude oil futures were 86 higher, closing at $48.75 per barrel. Crude oil prices this hot streak reaching two-month highs after inventory data that was released showed that U.S. inventories are dropping much more than originally expected.

Daily Market News Summary Data 07/26/17

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