Texas Daily Ag Market News Summary 10/13/17

Posted 7 years 45 days ago by

Feeder cattle auctions higher; Futures higher.

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

Cotton futures higher.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $4 higher. Texas Weekly Direct reported prices $1 to $5 higher. October Feeder cattle futures were 50 cents higher, closing at $154.05 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $111.00 per cwt. October Fed cattle futures were 47 cents higher, closing at $112.82 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 78 cents to close at $198.22 per cwt and Select grade gaining 60 cents to close at $190.05 per cwt. Estimated cattle harvest for the week totaled 574,000 up 4,000 from last week’s total and 12,000 from last year’s total. Year-to-date harvest is up 2.2%.

Cotton prices were uneven with cash prices holding steady to remain at 66.75 cents per pound and December cotton futures gaining 0.78 cents to close at 68.62 cents per pound.

Corn prices were higher with cash prices and December futures both gaining 4 cents to close at $3.55 per bushel and $3.53 per bushel, respectively. Grain Sorghum cash prices were 7 cents higher to close at $5.48 per cwt.

Wheat prices were higher with cash prices gaining 12 cents to close at $3.71 per bushel and December futures gaining 10 cents to close at $4.36 per bushel.

Milk prices were higher with October Class III milk gaining 3 cents to close at $16.72 per cwt.

Stock markets were higher today, pushed up by a quick rise in consumer sentiment, pushing the Nasdaq Composite to a fresh record high. November Crude oil futures were 85 cents higher, to close at $51.45 per barrel. Crude prices rose as a major increase in Chinese crude imports sparked big gains in crude prices.

Daily Market News Summary Data 10/13/17

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