Texas Daily Ag Market News Summary 10/24/17

Posted 7 years 34 days ago by

Feeder cattle auctions steady; Futures higher.

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

Cotton futures lower.

Grains and soybeans steady.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported steady prices. November Feeder cattle futures were $3.39 higher, closing at $156.12 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. December Fed cattle futures were $2.77, closing at $119.52 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining 88 cents to close at $200.13 per cwt and Select grade gaining $1.64 to close at $192.69 per cwt. Estimated cattle harvest for the week totaled 117,000 on par with last week’s total and up 2,000 from last year’s total. Year-to-date harvest is up 1.8%. For the time period of October 16 – 22 the USDA NASS Field Office reported that cattle and livestock condition remained mostly good to fair across the state. However, producers were using supplemental feeding in the Cross Timbers due to inadequate pasture. Some producers reported emerging respiratory problems in cattle. Horn flies continued being an issue in areas of North East Texas. Pasture and range condition did not change much from the previous week, remaining mostly fair to good across the state.

Cotton prices were mixed with cash prices remaining at 68.00 cents per pound and December cotton futures losing 0.18 cents to close at 69.54 cents per pound. The USDA NASS Field Office reported that the cotton harvest was underway in the Plains, the Blacklands, the Trans-Pecos and the Edwards Plateau

Corn prices were higher with cash prices gaining a penny to close at $3.55 per bushel and December corn futures gaining 2 cents to close at $3.53 per bushel. Grain Sorghum cash prices were 2 cents higher to close at $5.48 per cwt. The USDA NASS Field Office reported that corn, sorghum, and soybean harvests were in full swing in the Northern High Plains.

Wheat prices were higher with cash prices gaining a penny to close at $3.69 per bushel and December futures gaining 2 cents to close at $3.53 per bushel.

Milk prices were lower with November Class III milk losing 3 cents to close at $15.95 per cwt.

Stock markets were higher today, pushed up by strong earnings reports from S&P 500 companies. November Crude oil futures were 57 cents higher, to close at $52.47 per barrel. Crude oil prices hit a six-month high over hope of falling supply from fall out over geopolitical concerns.

Daily Market News Summary Data 10/24/17

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