Texas Daily Ag Market News Summary

Feeder cattle auctions steady to higher; futures down.

Formula trades inactive; Beef prices up.

Cotton prices up.

Grains and soybeans up.

Milk futures steady.

Crude oil down; Natural gas up.

Stock markets down

Cattle:

Texas feeder cattle auctions reported steady to higher prices. March Feeder cattle futures were down, dropping $1.90 to close at $144.65 per hundredweight (cwt). The Texas fed cattle cash had no reportable trade. February Live cattle futures were down, losing 52 cents to close at $127.50 per cwt. Wholesale boxed beef values were up, Choise grade to close at $221.03 per cwt and Select grade closing at $215.10 per cwt.

Cotton:

Cotton prices were up, with cash prices closing at 76.50 cents per pound and March cotton futures down, closing at 81.65 cents per pound.

Corn and Grain Sorghum:

Corn prices were up 11 cents, closing at $3.94 per bushel. March corn futures were also up, closing at $3.74 per bushel. Grain sorghum cash prices were up, gaining 9 cents to close at $6.22 per cwt.

Wheat:

Wheat prices were up, with cash prices gaining 19 cents to close at $4.73 per bushel and March wheat futures gaining 20 cents to close at $5.09 per bushel.

Milk:

Milk futures remained steady to close at $14.05 per cwt.

Stock Markets and Crude Oil:

Stock markets were down, with all the three major indexes showing moderate losses. April Crude oil futures were down $1.52 to close at $61.49 per barrel.