Texas Daily Ag Market News Summary 10/23/17

Posted 7 years 35 days ago by

Feeder cattle auctions higher; Futures lower.

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

Cotton prices higher.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions were higher, reporting prices steady to $4 higher. November Feeder cattle futures were 34 cents lower, closing at $152.73 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. December Fed cattle futures were 15 cents higher, closing at $116.75 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 61 cents to close at $199.25 per cwt and Select grade losing 9 cents to close at $191.05 per cwt. Estimated cattle harvest for the week totaled 115,000 up 5,000 from last week’s total and 3,000 from last year’s total. Year-to-date harvest is up 2.7%.

Cotton prices were higher with cash prices gaining 2.00 cents to close at 68.00 cents per pound and December cotton futures gaining 2.84 cents to close at 69.72 cents per pound.

Corn prices were higher with cash prices gaining 7 cents to close at $3.54 per bushel and December corn futures gaining 6 cents to close at $3.51 per bushel. Grain Sorghum cash prices were 12 cents higher to close at $5.46 per cwt.

Wheat prices were higher with cash prices and December futures both gaining 11 cents to close at $3.68 per bushel and $4.34 per bushel, respectively.

Milk prices were higher with November Class III milk gaining 26 cents to close at $15.98 per cwt.

Stock markets were lower today, dragged down by a string of disappointing earnings reports were released on Monday. November Crude oil futures were 43 cents higher, to close at $51.90 per barrel. Crude oil prices fluctuated on Monday as analysts tried to predict the potential fall-out caused by rising tensions between the oil-rich Kurdish regions of Iraq.

Daily Market News Summary Data 10/23/17

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