Texas Daily Ag Market News Summary 08/22/17

Posted 7 years 97 days ago by

Feeder cattle auctions lower; Futures higher.

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

Cotton prices higher.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions were lower, reporting prices steady to $5 lower. September Feeder cattle futures were $2.90 higher, closing at $142.05 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were $1.87 higher, closing at $107.72 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 6 cents to close at $193.03 per cwt and Select grade losing 73 cents to close at $190.89 per cwt. Estimated cattle harvest for the week totaled 236,000 up 1,000 from last week’s total and 11,000 from last year’s total. Year-to-date harvest is up 4.9%. For the time period of August 14-20 the USDA NASS Field Office reported that producers continued providing supplemental feed for livestock in South Texas and the Lower Valley. Lambs were being weaned in areas of the Edwards Plateau. Range and pasture benefited greatly from the previous week showers in the northern areas of the state. However, pastures in South Central Texas, the Coastal Bend, the Upper Coast, South Texas and the Lower Valley were browning due to the hot, dry weather.

Cotton prices were higher with cash prices gaining 0.25 cents to close at 69.25 cents per pound and October futures gaining 0.17 cents to close at 68.88 cents per pound. The USDA NASS Field Office reported that hail damaged some cotton fields in the Northern High Plains. Cotton rust was spotted in areas of the Trans-Pecos. Cotton harvest continued in the Upper Coast, the Coastal Bend, South Texas and the Lower Valley, while warmer temperatures and dry weather were needed in some areas of the High and Low Plains.

Corn prices were lower with cash prices and September futures both losing 3 cents and both closing at $3.46 per bushel. Grain Sorghum cash prices were 5 cents lower, closing at $5.27 per bushel. The USDA NASS Field Office reported that high humidity prevented farmers from harvesting corn in areas of the Northern Low Plains and the Southern High Plains. Rain in areas of the Northern High Plains helped with control of sugarcane aphid populations in sorghum.

Wheat prices were lower with cash prices and September futures both losing 9 cents to close at $3.40 per bushel and $3.99 per bushel, respectively. The USDA NASS Field Office reported that field preparations continued for the 2017 wheat and oats crops. Some farmers in the Northern Low Plains had begun seeding winter wheat.

Milk prices were lower with September Class III losing 21 cents to close at $16.92 per cwt.

Stock markets were higher today, recovering from recent declines, behind big gains in technology shares. September Crude oil futures were 27 cents higher, closing at $47.64 per barrel. Crude oil prices ended higher today, pushed up by disruptions in Libya’s oil production and expectations that U.S. crude stockpiles are continuing to decline.

Daily Market News Summary Data 08/22/17

If you are interested in receiving this daily report, please subscribe here.