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Jan
29
2018

Texas Daily Ag Market News Summary

Posted 291 days ago ago by Doug Van Pelt

Feeder cattle auctions up; futures up.

Formula trades lower; Beef prices up.

Cotton prices down.

Grains and soybeans up.

Milk futures steady.

Crude oil down; Natural gas up.

Stock markets down.

 

 

 

Cattle:

Texas feeder cattle auctions reported prices from steady to $5 higher. March Feeder cattle futures were up 28 cents, closing at $147.00 per hundredweight (cwt). The Texas fed cattle cash trade was not active today. February Live cattle futures were higher, gaining $1.10 to close at $125.70 per cwt. Wholesale boxed beef values were up, with Choice grade gaining $2.28 to close at $209.11 per cwt and Select grade gaining $2.30 to close at $204.13 per cwt. Estimated cattle harvest for the week totaled 118,000, up 30,000 from last week and 4,000 from last year’s total. Year-to-date harvest is up 3.51%. 

 

Cotton:

Cotton prices were down, closing at 75.00 cents per pound and March cotton futures closing at 78.36 cents per pound.

 

Corn and Grain Sorghum:

Corn prices were up, with cash prices gaining 2 cents to close at $3.71 per bushel and March corn futures up 2 cents, closing at $3.59 per bushel. Grain sorghum cash prices were up 3 cents, closing at $5.91 per cwt. 

 

Wheat:

Wheat prices were up with cash prices gaining 10 cents to close at $4.10 per bushel and March wheat futures gaining 10 cents, closing at $4.53 per bushel.

 

Milk:

Milk prices were steady, with January Class III milk futures closing at $13.91 per cwt.

 

Stock Markets and Crude Oil:

Stock markets were down, all of the three major indexes showing losses. February Crude oil futures were down 58 cents to close at $65.56 per barrel.

 

Daily Market News Summary Data

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From USDA National Agricultural Statistics Service (NASS):

 

(January 26, 2018) This report contains results from the January 2018 Cattle on Feed Survey collected during the first two weeks of January. Results from the next monthly survey will be made available on February 23, 2018.

 

Cattle and calves on feed for slaughter market in Texas feedlots with capacity of 1,000 head or more totaled 2.64 million head on January 1, 2018, up 9 percent from a year ago. Producers placed 385 thousand head in commercial feedlots during December, up 5 percent from a year ago.

 

Texas commercial feeders marketed 385 thousand head during December, up 5 percent from 2017. On January 1, there were 2.28 million head of cattle and calves on feed in the Northern High Plains, 86 percent of the state's total. The number on feed across the area was up 8 percent from last year but down 1 percent from the December 1 total. December placements in the Northern High Plains totaled 326 thousand head, down 21 percent from the November total. Marketings were down 13 percent from last month at 335 thousand head.