Texas Daily Ag Market News Summary 11/06/17

Posted 7 years 21 days ago by

Feeder cattle auctions higher; Futures lower.

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

Cotton futures higher.

Grains and soybeans uneven.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions were higher, reporting prices $2 to $4 higher. November Feeder cattle futures were 72 cents lower, closing at $160.15 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. December Fed cattle futures were $1.98 lower, closing at $125.32 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $1.83 to close at $210.57 per cwt and Select grade gaining $1.69 to close at $194.77 per cwt. Estimated cattle harvest for the week totaled 117,000 up 1,000 from last week’s total and 6,000 from last year’s total. Year-to-date harvest is up 5.4%.

Cotton prices were uneven with cash prices holding steady to remain at 69.00 cents per pound and December cotton futures gaining 0.13 cents to close at 68.85 cents per pound.

Corn prices were steady with cash prices and December futures both holding steady to remain at $3.40 per bushel and $3.48 per bushel, respectively. Grain Sorghum cash prices were steady, as well, to remain at $5.56 per cwt.

Wheat prices were higher with cash prices and December futures both gaining 3 cents to close at $3.67 per bushel and $4.30 per bushel, respectively.

Milk prices were higher with November Class III milk gaining 2 cents to close at $16.56 per cwt.

Stock markets closed higher today, major U.S. indexes were pushed to another set of record highs behind big gains in energy shares caused by rallying crude oil prices. December Crude oil futures were $1.71 higher, to close at $57.35 per barrel. Crude oil prices hit their highest prices in over two-years as signs of increased global demand have been on the rise. These signs have made people around the markets believe that the increased demand may be enough to soak up some of the glut of crude oil that has been dragging down global markets for months.

Daily Market News Summary Data 11/06/17

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