Texas Daily Ag Market News Summary 08/02/17

Posted 7 years 117 days ago by

Feeder cattle auctions mixed; Futures higher.

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

Cotton prices higher.

Grains and soybeans higher.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported mixed prices with instances of $3 to $10 lower and up to $5 higher. August Feeder cattle futures were $1.08 higher, closing at $150.25 per hundredweight (cwt). The Texas fed cattle cash trade was active, closing at $116.00 per cwt. August Fed cattle futures were $1.72 higher closing at $114.52 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 35 cents to close at $205.06 per cwt and Select grade losing 87 cents to close at $197.42 per cwt. Estimated cattle harvest for the week totaled 347,000 down 2,000 from last week’s total and up 13,000 from a year ago. Year-to-date harvest is up 3.9%.

Cotton prices higher with cash prices gaining 1.00 to close at 69.25 cents per pound and October futures gaining 0.58 cents to close at 71.75 cents per pound.

Corn prices were higher with cash and September futures both gaining 2 cents to close at $3.64 per bushel and $3.65 per bushel, respectively. Grain Sorghum cash prices were 4 cents higher, closing at $5.43 per bushel.

Wheat prices were steady with cash prices and September futures both remaining at $4.00 per bushel and $4.65 per bushel, respectively.

Milk prices were lower with August Class III losing 24 cents to close at $16.49 per cwt.

Stock markets were higher today, pushing the Dow Jones Industrial average to 22,000 for the first time in history, behind sharp gains in Apple shares. Major U.S. indexes have been rising as of late, behind strong corporate earnings reports, suggesting that corporate health is at an all-time high. September Crude oil futures were 43 cents higher, closing at $49.59 per barrel.

Daily Market News Summary Data 08/02/17

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