2017

Posted 7 years 30 days ago by

Feeder cattle auction reported higher prices; Futures higher.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures higher.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $5 higher. March Feeder cattle futures were 53 cents higher, closing at $132.00 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were $1.00 higher, closing at $119.90 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $1.17 to close at $224.93 per cwt and Select grade gaining $1.44 to close at $215.41 per cwt. Estimated cattle harvest for the week totaled 232,000 up 4,000 from last week’s total and 11,000 from a year ago. Year-to-date harvest is up 5.0%. For the time period of March 13-19 the USDA NASS Field Office reported that cattle condition was rated mostly good to fair. Supplemental feeding continued in the Plains and the Cross Timbers. Pasture and range condition was rated mostly good to fair.

Cotton prices were lower with cash prices losing 0.75 cents to close at 75.25 cents per pound and May futures losing 0.49 cents to close at 76.84 cents per pound. The USDA NASS Field Office reported that cotton producers in the northern parts of the state continued field preparations for cotton and other row crops. Some of the cotton in the Coastal Bend emerged. Cotton planting continued in South Texas and the Lower Valley.

Corn prices were lower with cash prices losing 2 cents to close at $3.54 per bushel and May futures losing 3 cents to close at $3.61 per bushel. The USDA NASS Field Office reported that corn was being planted in the Blacklands, North East Texas, South Central, South Texas and the Upper Coast. Grain Sorghum cash prices ended a nickel lower, finishing at $5.32 per cwt.

Wheat prices were lower with cash and May futures both losing 7 cents to close at $3.48 per bushel and $4.38 per bushel, respectively. The USDA NASS Field Office reported that winter wheat was rated 74 percent fair to good. Wheat in the Northern and Southern High Plains continued to progress in the jointing stage. In some areas of the Blacklands, wheat reached the heading stage. The lack of moisture caused concerns with some wheat producers in the Plains.

Milk prices were higher with April Class III gaining 36 cents to close at $15.46 per cwt.

Stock markets closed lower today, as U.S. indexes posted their largest drop of the year, suggesting that confidence in the President Trump’s suggested trade policy is beginning to waver. April Crude oil futures were 88 cents lower, closing at $47.34 per barrel. Crude oil declines continued as increasing U.S production and large global inventories has sparked a steep selloff of crude oil and energy shares.

DailyMarket News Summary Data 03/21/17

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