2017

Posted 6 years 355 days ago by

Feeder cattle auction reported higher prices; Futures higher.

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

Cotton prices lower.

Grains and soybeans higher.

Milk futures lower.

Crude oil lower; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $3 higher. April Feeder cattle futures were $1.00 higher to close at $140.85 per hundredweight (cwt). The Texas fed cattle cash was higher today, gaining $5.69 to close at $136.59 per cwt. April Fed cattle futures were $3.58 higher, closing at $135.60 per cwt. Wholesale boxed beef values were uneven, with Choice grade losing 3 cents to close at $219.15 per cwt and Select grade gaining 93 cents to close at $206.65 per cwt. Estimated cattle harvest for the week totaled 464,000 up 9,000 from last week’s and 16,000 from a year ago. Year-to-date harvest is up 3.6%.

Cotton prices were lower with cash prices losing 1.50 cents to close at 75.25 cents per pound and May futures losing 1.37 cents to close at 79.32 cents per pound.

Corn prices were lower with cash prices gaining 2 cents to close at $3.56 per bushel and May futures gaining 3 cents to close at $3.61 per bushel. Grain Sorghum cash prices were a nickel higher to close at $5.40 per cwt.

Wheat prices were higher with cash prices gaining 8 cents to close at $3.40 per bushel and May futures gaining 9 cents to close at $4.21 per bushel.

Milk prices were lower with April Class III milk futures losing 3 cents to close at $15.18 per cwt.

Stock markets closed higher today as major U.S. indexes were lifted up by gains in technology shares that overwhelmed declines in energy shares. June Crude oil futures were 65 cents lower, closing at $48.97 per barrel. Crude oil prices closed lower today behind mixed U.S inventory data combined with the growing concern that the agreement by OPEC and other producers will not be enough to clear the global oversupply of crude oil.

This week’s U.S. Drought Monitor for Texas showed a slight improvement in drought conditions for the state, with 9.42 percent of Texas still in some stage of drought intensity, down 0.28 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved, with 21.67 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 5.29 percentage points from last week.

Daily Market News Summary Data 04/27/17

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