Texas Daily Ag News Market Summary 10/1/15

Posted 5 years 283 days ago ago by Texas Department of Agriculture

Feeder cattle auction quoted prices $5 to $13 lower; futures lower.

Fed cattle cash trade inactive; formula trades lower; futures lower.

Cotton higher.

Grains and soybeans mixed.

Crude oil lower; natural gas lower.

Stock markets slightly higher.

Texas feeder cattle auctions quoted prices $5 to $13 lower. Feeder cattle futures were $0.77 lower, closing at $177.40 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Estimated cattle harvest for the week totaled 445,000 head, down 4,000 from last week’s total and down 13,000 from a year ago. Year-to-date harvest is down 2.8%. Fed cattle futures were $3.27 lower, closing at $121.40 per cwt.

Cotton prices were higher with futures prices gaining 0.23 cents to settle at 59.65 cents per pound.

Corn and grain sorghum prices were mixed, with corn cash prices gaining $0.01 and corn futures prices losing $0.01 settling at $3.99 and $3.87 per bushel, respectively. Grain sorghum prices gained a penny to settle at $6.14 per cwt.

Wheat prices were higher with cash prices gaining $0.04 and futures prices gaining $0.06 settling at $4.26 and $5.08 per bushel, respectively.

Stock markets closed slightly higher yesterday, uncertainty about the strength of Fridays employment report stopped all positive momentum. Crude oil prices closed $0.35 lower yesterday, settling at $44.74 per barrel.

Daily Market News SummaryData 10/1/15

If you are interested in receiving this daily report, please subscribe here.

This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with 65.49% of Texas still in some stage of drought intensity, up 5.76 percentage points from last week. Additionally, 17.55% of the state remains in severe, extreme, or exceptional drought, up 3.51 percentage points from last week. On the national level, drought conditions also worsened, with 55.09% of the U.S. experiencing abnormal dryness or some degree of drought, up 0.28 percentage points from last week.