Apr 13 2015

Texas Daily Ag Market News Summary 4/13/15 Posted 9 years 8 days ago by

• Feeder cattle steady to $4 higher; futures sharply lower.
• Fed cattle cash trade inactive; formula trades higher; futures sharply lower; beef prices lower.
• Cotton lower.
• Grains and soybeans mixed.
• Crude oil higher; natural gas lower.
• Stock markets higher.

Texas feeder cattle auctions quoted prices steady to $4 higher. Feeder cattle futures closed $4.03 lower at $212.45 per hundredweight (cwt). The Texas fed cattle cash trade was inactive on Friday. Wholesale boxed beef values were lower, with Choice grade closing $1.88 lower at $256.51 per cwt and Select grade down $2.54 to close at 249.91 per cwt. Estimated cattle harvest for the week totaled 502,000 head, down 23K from the previous week and 73K from a year ago. Year-to-date harvest is down 12.7%. Fed cattle futures closed $4.03 lower at $158.80 per cwt.

Cotton cash prices were 1.00 cent lower at 62.13 cents per pound and futures settled 1.16 cents lower at 65.06 cents per pound, continuing the previous day’s downward push after ending higher for the four prior sessions.

Corn and grain sorghum prices were mixed, with corn cash and futures prices each $0.01 lower, but grain sorghum cash prices up $0.16. Soybean futures were lower as concern grew over the possibility that wet weather will increase the size of the U.S. soybean crop.

Wheat futures prices closed $0.07 higher at $5.59 per bushel, rising alongside cash prices, which gained $0.08 to close $5.22 per bushel.

Stock markets closed higher, but economic reports for the first quarter are still being interpreted. Crude oil prices closed $0.85 higher at $51.64 per barrel. Baker Hughes reported last week the largest drop in four weeks in the number of oil rigs in production. The number fell by 42 to total 760 rigs.

 

Daily Market Summary Data for 4/13/2015

 

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