Texas Daily Ag Market News 09/06/17

Posted 7 years 82 days ago by

Feeder cattle auctions higher; Futures higher.

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

Cotton cash prices lower.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas steady.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $10 higher with limited comparable sales due to weather conditions. September Feeder cattle futures were $1.25 higher, closing at $143.30 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were 28 cents higher, closing at $104.70 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 48 cents to close at $192.93 per cwt and Select grade gaining 20 cents to close at $190.67 per cwt. Estimated cattle harvest for the week totaled 235,000 down 114,000 from last week’s total and up 6,000 from last year’s total. Year-to-date harvest is up 2.7%. For the time period of August 28 – September 3 the USDA NASS Field Office reported that cattle across the state were mostly in good condition. Pasture and range condition was mostly fair to good. However, some of the fields affected by the hurricane remained saturated.

Cotton prices were mixed with cash prices losing 1.00 cents to close at 74.25 cents per pound and October futures remaining at 75.26 cents per pound. The USDA NASS Field Office reported that significant damage was reported to cotton unharvested prior to the passing of Hurricane Harvey in the Upper Coast and South Central Texas. Cotton harvest resumed in South Texas and the Lower Valley. Bollworms and aphids damaged some cotton fields in areas of the Southern High Plains, while cotton in the Blacklands was being defoliated.

Corn prices were higher with cash prices and September futures gaining 3 cents to close at $3.54 per bushel and $3.47 per bushel, respectively. Grain Sorghum cash prices were 5 cents higher, closing at $5.37 per bushel. The USDA NASS Field Office reported that a few corn fields in areas of the Northern High Plains were damaged due to wild hogs. Sorghum in the Northern High Plains was treated for pests. Aphids were becoming a problem for sorghum producers in the Northern Low Plains.

Wheat prices were higher with cash prices gaining 11 cents to close at $3.70 per bushel and September futures gaining 3 cents to close at $4.23 per bushel. The USDA NASS Field Office reported that field preparations for wheat neared completion in areas of the Plains, the Cross Timbers and the Edwards Plateau.

Milk prices were higher with September Class III gaining 6 cents to close at $16.34 per cwt.

Stock markets were higher today, reversing yesterday’s losses, propped up by gains in energy and financial shares. October Crude oil futures were 50 cents higher, closing at $49.16 per barrel. Crude oil prices picked up gains from increased demand as the refineries and other infrastructure located in the Gulf Coast have restarted operations.

Daily Market News Summary Data 09/06/17

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