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Sep
26
2017

Texas Daily Ag Market News Summary 09/26/17

Posted 267 days ago ago by Texas Department of Agriculture

Feeder cattle auctions mixed; Futures lower.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets higher.

                              

 

Texas feeder cattle auctions were mixed reporting prices steady to $4 higher, with instances of $3 to $5 lower. October Feeder cattle futures were 95 cents lower, closing at $150.65 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. October Fed cattle futures were 95 cents lower, as well, closing at $108.27 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $2.82 to close at $196.78 per cwt and Select grade gaining $2.22 to close at $193.11 per cwt. Estimated cattle harvest for the week totaled 236,000 up 6,000 from last week’s total and 9,000 from last year’s total. Year-to-date harvest is up 4.0%. For the time period of September 18 – 24 the USDA NASS Field Office reported that supplemental feeding of livestock continued in areas of the Cross Timbers, the Lower Valley and South Texas. Cattle and livestock condition remained good to fair across the state. Pasture conditions declined in those areas that did not receive rainfall last week. Army worm issues were reported in South Central Texas. Feral hog activity was causing problems to producers in North East Texas.

 

Cotton prices were lower with cash prices losing 0.50 cents to close at 68.25 cents per pound and October futures losing 0.71 cents to close at 69.38 cents per pound. The USDA NASS Field Office reported that cotton fields in areas of the Southern High Plains and the Low Plains were damaged by hail. Producers in the Upper Coast were still trying to salvage any remaining cotton not destroyed by Hurricane Harvey.

 

Corn prices were lower with cash prices and December futures both losing 2 seconds to close at $3.54 per bushel and $3.52 per bushel, respectively. Grain Sorghum cash prices were 2 cents lower as well, closing at $5.45 per cwt. The USDA NASS Field Office reported that corn harvest in the Blacklands was slowed due to lack of elevator space. Sugarcane aphids continued to be an issue for sorghum producers in the Southern High Plains.

 

Wheat prices were lower with cash prices and December futures both losing 2 cents to close at $3.89 per bushel and $4.52 per bushel, respectively. The USDA NASS Field Office reported that winter wheat seeding had been completed in some areas of the state. Meanwhile producers in other areas delayed seeding operations waiting on better moisture conditions.

 

Milk prices were lower with October Class III milk losing a nickel to close at $16.28 per cwt.

 

Stock markets were higher today, regaining yesterday’s losses, as technology shares bounced back. November Crude oil futures were 34 cents lower, to close at $51.88 per barrel, crude oil prices retreated after hitting a two-year high yesterday.

 

Daily Market News Summary Data 09/26/17

 

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