Posted 22 days ago ago by Texas Department of Agriculture
Feeder cattle auction reported higher
prices; Futures lower.
Fed cattle cash trade inactive;
Formula trades higher; Futures lower; Beef prices higher.
Cotton prices uneven.
Grains and soybeans lower.
Milk futures higher.
Crude oil lower; Natural gas lower.
Stock markets lower.
Texas feeder cattle
auctions reported prices steady to $2 higher. March Feeder cattle futures were 12 cents lower, closing at $123.95 per
hundredweight (cwt). The Texas fed
cattle cash was inactive today. April Fed
cattle futures were 20 cents lower, closing at $115.35 per cwt. Wholesale boxed beef values were higher,
with Choice grade gaining $2.40 to close at $212.00 per cwt and Select grade gaining
$1.09 to close at $205.05 per cwt. Estimated
cattle harvest for the week totaled 239,000 down 3,000 from last week’s
total and up 14,000 from a year ago. Year-to-date harvest is up 6.6%. For the
time period of February 27- March 5 the USDA NASS Field Office reported that most
producers reported their cattle in good to fair condition. Some producers
provided supplemental protein to cattle. Pasture conditions were rated mostly
good to fair across the state.
Cotton prices were uneven
with cash prices gaining 0.25 cents to close at 75.50 cents per pound and March
futures losing 1.11 cents to close at 77.28 cents per pound. The USDA NASS
Field Office reported that cotton producers in the
Northern High Plains were planning on waiting until May to start planting.
Cotton planting continued in the Lower Valley.
Corn prices were lower
with cash and March futures prices both losing 3 cents to close at $3.69 per
bushel and $3.70 per bushel, respectively.
Grain Sorghum cash prices were 6 cents lower, closing at $5.59 per cwt. The
USDA NASS Field Office reported that corn was being planted across areas of the
southern part of the state. Corn and sorghum were beginning to germinate in the
Lower Valley. Producers in the Blacklands were beginning to plant sorghum while
corn planting continued.
Wheat prices were lower
with cash and March futures both losing a penny to close at $3.83 per bushel
and $4.63 per bushel, respectively. The USDA NASS Field Office reported that winter wheat was rated mostly fair to good. Wheat continued
to progress across most of the state, but was in need of moisture in some areas
of the state. Some wheat producers in dry areas of South Texas used irrigation
during the past week.
Milk prices were higher
with April Class III gaining 6 cents to close at $15.95 per cwt.
Stock markets closed
slightly lower today, as investors are waiting for more clues regarding the
future of U.S monetary policy. April Crude
oil futures were 6 cents lower, closing at $53.14 per barrel. Crude oil
prices closed lower today after it was realized that U.S shale producers will
not cut production despite OPEC’s agreement.
Market News Summary Data 03/07/17
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