Texas Daily Ag Market News Summary 08/15/17

Posted 7 years 104 days ago by

Feeder cattle auctions lower; Futures higher.

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

Cotton prices lower.

Grains and soybeans mostly lower.

Milk futures higher.

Crude oil lower; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices $4 to $8 lower. August Feeder cattle futures were $3.05 higher, closing at $145.35 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. August Fed cattle futures were $1.00 higher, closing at $110.05 per cwt. Wholesale boxed beef values were uneven, with Choice grade gaining 3 cents to close at $198.95 per cwt and Select grade losing 57 cents to close at $195.87 per cwt. Estimated cattle harvest for the week totaled 235,000 down 2,000 from last week’s total and up 10,000 from last year’s total. Year-to-date harvest is up 4.5%. For the time period of August 7-13 the USDA NASS Field Office reported that cattle conditions in areas of South Texas have declined. Producers continued providing supplemental feed for livestock. Range and pasture condition varied across the state. Some areas benefited greatly from the recent rains and increase in moisture. However, pastures in South Texas and areas of the Trans-Pecos were still dry and continued to decline in forage quality. Hogs continued to be a problem for corn growers in North East Texas.

Cotton prices were lower with cash prices losing 0.75 cents to close at 67.75 cents per pound and October futures losing 0.82 cents to close at 67.68 cents per pound. The USDA NASS Field Office reported aphid numbers in the Southern High Plains were elevated in areas that were previously treated for cotton fleahoppers. There were signs of cotton root rot in some areas of the Blacklands. Cotton harvest continued in the Upper Coast, the Coastal Bend, South Texas and the Lower Valley.

Corn prices were lower with cash prices losing 7 cents to close at $3.55 per bushel and September futures losing 8 cents to close at $3.55 per bushel, as well. Grain Sorghum cash prices were 13 cents lower, closing at $5.31 per bushel. The USDA NASS Field Office reported that producers were making preparations in anticipation of corn harvest in the Northern High Plains.

Wheat prices were lower with cash prices losing 11 cents to close at $3.66 per bushel and September futures losing 10 cents to close at $4.27 per bushel. The USDA NASS Field Office reported that field preparations continued for the 2017 wheat crops.

Milk prices were lower with August Class III losing 5 cents to close at $16.45 per cwt.

Stock markets were mostly steady today. September Crude oil futures were 4 cents lower, closing at $47.55 per barrel. Crude oil prices extended yesterday’s losses as concerns surrounding global demand have continued to rise.

Daily Market News Summary Data 08/15/17

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