Texas Daily Ag Market News Summary 06/27/17

Posted 8 years 8 days ago by

Feeder cattle auction reported mixed prices; Futures lower.

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

Cotton prices higher.

Grains and soybeans uneven.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported mixed prices with instances of steady to $3 lower and $5 to $10 higher. August Feeder cattle futures were $4.58 lower, closing at $144.87 per hundredweight (cwt). The Texas fed cattle cash trade was inactive. August Fed cattle futures were $3.25 lower, closing at $115.02 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $4.46 to close at $233.91 per cwt and Select grade gaining $2.40 to close at $215.26 per cwt. Estimated cattle harvest for the week totaled 235,000 up 4,000 from last week’s total and 10,000 from a year ago. Year-to-date harvest is up 4.5%. For the time period of June 19-25 the USDA NASS Field Office reported that livestock was mostly in good condition across the state. Producers in the Northern High Plains were continuing to discover respiratory complications in cattle affected by the large wildfires in early March. Flies and other insects were becoming a problem for livestock in North East Texas, the Cross Timbers and the Blacklands. Pasture and range condition was mostly fair to good. Wildfire was a concern in the Low Plains. Feral Hogs were damaging the corn fields in North East Texas.

Cotton prices were higher with cash prices gaining 0.75 cents to close at 69.00 cents per pound and July futures gaining 0.76 cents to close at 74.44 cents per pound. The USDA NASS Field Office reported that High winds and blowing sand were taking a toll on cotton seedlings in the Northern High Plains. Early planted irrigated cotton was entering the squaring stage in the Southern High Plains. Lack of moisture in areas of the Northern Low Plains was affecting cotton emergence and causing serious damage to emerged plants. Some cotton fields in the Upper Coast were having worm issues.

Corn prices were steady with cash and July futures both remaining at $3.59 per bushel. Grain Sorghum cash prices were steady as well, remaining at $5.38 per cwt. The USDA NASS Field Office reported that corn was tasseling in the Northern High Plains. Corn silage harvest was in full swing in the Cross Timbers. Dryland sorghum was being planted in the Northern High Plains. Sorghum was coloring in the Blacklands and the Upper Coast. Sorghum harvest was underway in the Coastal Bend. Worm infestations damaged soybeans in scattered areas of the Blacklands.

Wheat prices were higher with cash July futures both gaining 4 cents to close at $4.06 per bushel and $4.57 per bushel, respectively. The USDA NASS Field Office reported that the wheat harvest continued in areas of the Northern High Plains. The rest of the state was almost done with small grains harvest.

Milk prices were lower with July Class III losing a penny to close at $15.88 per cwt.

Stock markets were lower today, dragged down by declines in technology shares, which have been steadily falling in recent sessions. August Crude oil futures were 86 cents higher, closing at $44.24 per barrel. Crude prices have continued to rise as of late, despite that investors still see the overall mood surrounding oil markets as “down”.

Daily Market News Summary Data 06/27/17

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