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Aug
17
2017
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Posted 1 years 60 days ago ago by Texas Department of Agriculture
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Feeder cattle auctions mixed;
Futures lower.
Fed cattle cash trade active;
Formula trades lower; Futures lower; Beef prices lower.
Cotton futures lower.
Grains and soybeans lower.
Milk futures higher.
Crude oil higher; Natural gas higher.
Stock markets lower.
Texas feeder cattle
auctions
were mixed, reporting prices steady
to $4 lower with instances of $2 to $5 higher. September Feeder cattle futures were $2.40 lower, closing at $140.72 per
hundredweight (cwt). The Texas fed
cattle cash trade was active today, closing at $109.99 per cwt. October Fed cattle futures were $2.10 lower,
closing at $106.22 per cwt. Wholesale
boxed beef values were lower, with Choice grade losing $1.88 to close at $195.63
per cwt and Select grade losing 84 cents to close at $194.20 per cwt. Estimated cattle harvest for the week
totaled 467,000 down 2,000 from last week’s total and up 14,000 from last year’s
total. Year-to-date harvest is up 3.1%.
Cotton futures were lower
with October futures losing 0.10 cents to close at 67.45 cents per pound and
cash prices were steady to remain at 67.75 cents per pound
Corn prices were lower
with cash prices losing 3 cents to close at $3.50 per bushel and September
futures losing 2 cents to close at $3.51 per bushel. Grain Sorghum
cash prices were 4 cents lower, closing at $5.22 per bushel.
Wheat prices were lower
with cash prices and September futures both losing 6 cents to close at $3.54
per bushel and $4.14 per bushel, respectively.
Milk prices were higher
with September Class III gaining 10 cents to close at $17.15 per cwt.
Stock markets were
lower today, reversing yesterday’s gains behind a string of disappointing
earnings reports and renewed political tensions with North Korea. September Crude oil futures were 31 cents higher, closing at $47.09 per barrel.
This week’s U.S. Drought
Monitor for Texas showed improving drought conditions
for the state, with only 10.29 percent of Texas still in some stage of drought
intensity, down 9.74 percentage points from last week. Additionally, none of the state remains in severe,
extreme, or exceptional drought, down 1.20 percentage points from three months ago. On the national
level, drought conditions improved slightly, with 28.05
percent of the U.S. experiencing abnormal dryness or some degree of drought, down
1.72 percentage points from last week.
Daily
Market News Summary Data 08/17/17
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