Texas Daily Ag Market News Summary 10/17/17

Posted 7 years 41 days ago by

Feeder cattle auctions higher; Futures lower.

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

Cotton prices higher.

Grains and soybeans lower.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $2 higher. October Feeder cattle futures were $1.85 cents lower, closing at $152.15 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were 55 cents lower, closing at $111.17 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.15 to close at $197.66 per cwt and Select grade losing 72 cents to close at $189.85 per cwt. Estimated cattle harvest for the week totaled 227,000 down 6,000 from last week’s total and 2,000 from last year’s total. Year-to-date harvest is down 0.9%. For the time period of October 9 – 15 the USDA NASS Field Office reported that Cattle and livestock condition remained good to fair across the state. Pasture and range condition was rated mostly fair to good. However, pastures in North East Texas were getting drier and cattle producers had begun feeding hay to supplement grazing. Feral hog activity in pastures and hay meadows continued in North East Texas.

Cotton prices were higher with cash prices gaining 0.25 cents to close at 66.25 cents per pound and December cotton futures gaining 0.24 cents to close at 67.77 cents per pound. The USDA NASS Field Office reported that last week’s warmer weather aided cotton development in the Plains. Bolls were opening in the Southern Plains and the Edwards Plateau. Cotton harvest continued in the Blacklands.

Corn prices were lower with cash prices and December futures both losing a penny to close at $3.52 per bushel and $3.50 per bushel, respectively. Grain Sorghum cash prices were a penny lower, as well to close at $5.444 per cwt. The USDA NASS Field Office reported that corn and sorghum harvest continued in the Northern High Plains.

Wheat prices were lower with cash prices and December futures both losing a penny to close at $3.67 per bushel and $4.33 per bushel, respectively. The USDA NASS Field Office reported that

Milk prices were higher with October Class III milk gaining 4 cents to close at $16.80 per cwt.

Stock markets were higher today, as the Dow Jones eclipsed 23,000 points for the first time in its history, lifted up by gains in health-care shares. November Crude oil futures were a penny higher, to close at $51.88 per barrel. Crude oil prices switched between gains and losses as investors adjusted to renewed geopolitical tensions.

Daily Market News Summary Data 10/17/17

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