Texas Daily Ag Market News Summary 4/9/15

Posted 9 years 13 days ago by

Feeder cattle steady; futures lower.
Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices mixed.
Cotton higher.
Grains and soybeans mostly lower.
Crude oil sharply lower; natural gas lower.
Stock markets higher.

Texas feeder cattle auctions quoted prices steady. Feeder cattle futures were higher, settling at $216.23 per hundredweight (cwt), $1.45 below the previous day’s closing price. The Texas fed cattle cash trade remained inactive on Tuesday. Wholesale boxed beef values were mixed. Estimated cattle harvest through Wednesday totaled 313,000 head, down 5K from last week and 37K from a year ago. Year-to-date harvest is down 10.6%. Fed cattle futures were lower, closing at $161.55 per cwt.

Cotton cash and futures prices were lower.

Corn and grain sorghum prices were higher. Soybeans closed $0.01 higher, settling at $9.72 per bushel.

Wheat prices were lower.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with about 48.9% of the state still in some stage of drought intensity, down about 0.40 percentage points from last week. Additionally, almost 25.4% of the state remains in severe, extreme, or exceptional drought, down 0.06 percentage points from last week, but up over 1.30 percentage points from three months ago. On the national level, drought conditions worsened, with almost 60% of the U.S. experiencing abnormal dryness or some degree of drought, up 1.22 percentage points from last week.

Stock markets were higher. Crude oil prices were $3.560 lower, settling at $50.42 per barrel.

Daily Market Summary Data for 4/9/2015

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