Sep 19 2017

Texas Daily Ag Market News Summary 09/19/17 Posted 7 years 69 days ago by

Feeder cattle auctions mixed; Futures higher.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures higher.

Crude oil lower; Natural gas lower.

Stock markets higher.

                              

 

Texas feeder cattle auctions reported mixed prices with instances of steady to $2 higher and steady to $2 lower. October Feeder cattle futures were 85 cents higher, closing at $152.80 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were 39 cents higher, closing at $107.97 per cwt. Wholesale boxed beef values were uneven, with Choice grade losing 51 cents to close at $192.11 per cwt and Select grade gaining $1.13 to close at $188.83 per cwt. Estimated cattle harvest for the week totaled 230,000 down 3,000 from last week’s total and up 4,000 from last year’s total. Year-to-date harvest is up 1.8%. For the week of September 11 - 17 the USDA NASS Field Office reported that producers were giving supplemental feed to livestock in the Cross Timbers, South Texas and the Lower Valley. Cattle and livestock condition remained good to fair across the state. Pastures were showing signs of drought stress in many areas of the state. Overall, pasture and range condition remained good to fair statewide.

 

Cotton prices were lower with cash prices losing 0.50 cents to close at 69.00 per pound and October futures losing 0.43 cents to close at 69.98 cents per pound. The USDA NASS Field Office reported that cotton bolls were opening in the Plains and the Trans-Pecos while harvest continued in the Blacklands, South East Texas and South Texas.

 

Corn prices were lower with cash prices and December futures both losing 4 cents to close at $3.50 per bushel and $3.48 per bushel, respectively. The USDA NASS Field Office reported that corn harvest continued in the Northern Plains and the Cross Timbers. Grain Sorghum cash prices were lower, losing 4 cents to close at $5.40 per cwt.

 

Wheat prices were steady with cash prices and December futures both remaining at $3.77 per bushel and $4.42 per bushel, respectively. the USDA NASS Field Office reported that winter wheat seeding continued in the Plains. Wheat producers in some areas of the Southern Plains, the Cross Timbers, the Blacklands and the Trans-Pecos were waiting for higher soil moisture to start seeding the fields. Oats and wheat seeding continued in South Texas.

 

Milk prices were lower with October Class III milk gaining 5 cents to close at $15.77 per cwt.

 

Stock markets were slightly higher today, as investors await the decision of the Federal Reserve regarding interest rates. October Crude oil futures were 43 cents lower to close at $49.48 per barrel. Crude prices gave up gains as concerns over global supply and OPEC’s possible extension of their production cutting agreement have dragged down prices.

 

Daily Market News Summary Data 09/19/17

 

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