Texas Daily Ag Market News Summary 08/01/17

Posted 7 years 118 days ago by

Feeder cattle auctions lower; Futures higher.

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

Cotton prices higher.

Grains and soybeans lower.

Milk futures higher.

Crude oil lower; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 lower. August Feeder cattle futures were $3.00 lower, closing at $149.17 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. August Fed cattle futures were 80 cents higher closing at $112.80 per cwt. Wholesale boxed beef values were uneven, with Choice grade losing 34 cents to close at $205.41 per cwt and Select grade gaining 45 cents to close at $198.29 per cwt. Estimated cattle harvest for the week totaled 230,000 on par with last week’s total and up 7,000 from a year ago. Year-to-date harvest is up 3.2%. For the time period of July 24-30 the USDA NASS Field Office reported that livestock was in good to fair condition throughout the state. Supplemental feeding continued in South Texas and the Lower Valley. Range and pasture conditions remained fair to good across the state. However, the lack of rain and high temperatures have reduced range and pasture condition across many areas. Hay harvest progressed in the Blacklands.

Cotton prices higher with cash prices gaining 0.75 to close at 68.25 cents per pound and October futures gaining 0.67 cents to close at 71.17 cents per pound. The USDA NASS Field Office reported that cotton had reached the squaring stage in the Northern High Plains and was blooming and setting bolls in the Southern Plains. Cotton fields were sprayed for flea hoppers in the Northern Low Plains. Muddy fields in areas of the Trans-Pecos prevented cotton farmers from working their fields. Cotton was blooming in areas of the Edwards Plateau. Cotton defoliation started in areas of the Coastal Bend and South Texas while harvest was at peak activity in the Lower Valley.

Corn prices were lower with cash prices losing 9 cents to close at $3.62 per bushel and September futures losing 8 cents to close at $3.63 per bushel. Grain Sorghum cash prices were 16 cents lower, closing at $5.39 per bushel. The USDA NASS Field Office reported that corn had reached the tasseling stage in the Northern High Plains. Corn harvest was underway in the Cross Timbers, the Blacklands, East Texas, South Central Texas, the Upper Coast, South Texas and the Lower Valley. Sorghum was filling grain in the Southern High Plains and had reached the boot stage in most areas of the Northern High Plains. Harvest continued in the Blacklands, the Edwards Plateau, South Texas and the Lower Valley.

Wheat prices were lower with cash prices and September futures both losing a dime to close at $4.00 per bushel and $4.65 per bushel, respectively. The USDA NASS Field Office reported

Milk prices were higher with August Class III gaining 14 cents to close at $16.73 per cwt.

Stock markets were higher today, behind the release of strong corporate earnings reports and gains in banking shares, pushing the Dow Jones Industrial Average within reach of 22,000. September Crude oil futures were $1.01 lower, closing at $49.16 per barrel.

Daily Market News Summary Data 08/01/17

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