2017

Posted 7 years 24 days ago by

Feeder cattle auction reported higher prices; Futures higher.

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

Cotton futures lower.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. March Feeder cattle futures were 20 cents higher, closing at $132.35 per hundredweight (cwt). The Texas fed cattle cash was lower, losing $4.44 to close at $125.56 per cwt. April Fed cattle futures were 30 cents lower, closing at $120.77 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 34 cents to close at $219.57 per cwt and Select grade losing 60 cents to close at $213.02 per cwt. Estimated cattle harvest for the week totaled 231,000 down 1,000 from last week’s total and up 21,000 from a year ago. Year-to-date harvest is up 10%. For the time period of March 20-26 the USDA NASS Field Office reported that producers in the plains and the Blacklands were still supplementing cattle on range. Most of the cattle were in good condition. Although some of the pasture dried out due to the warm weather and strong winds, the pasture and range condition were rated mostly good to fair.

Cotton prices were mixed with cash prices remaining at 75.75 cents per pound and May futures losing 0.06 cents to close at 76.88 cents per pound. The USDA NASS Field Office reported that cotton planting continued in the Lower Valley and the Upper Coast. Producers in the Northern districts of the state continued field preparations for cotton planting.

Corn prices were higher with cash and May futures both gaining 2 cents to close at $3.52 per bushel and $3.58 per bushel, respectively. Grain Sorghum cash prices were 5 cents higher, closing at $5.27 per cwt. The USDA NASS Field Office reported that corn planting continued across the state. Corn in the Blacklands was emerging and producers were fertilizing fields. Sorghum planting was underway in South Texas.

Wheat prices were higher with cash prices gaining 4 cents to close at $3.39 per bushel and May futures gaining 3 cents to close at $4.24 per bushel. The USDA NASS Field Office reported that winter wheat was rated 72 percent fair to good. Some wheat fields in the Southern Low Plains showed signs of moisture stress, but the dry conditions extended to most of the Northern parts of the state, the Edwards Plateau and South Texas.

Milk prices were higher with April Class III milk futures gaining 16 cents to close at $15.16 per cwt.

Stock markets closed higher today, snapping the Dow Jones losing streak behind positive economic data and gains in energy and financial shares. May Crude oil futures were 64 cents higher, closing at $48.37 per barrel. Crude oil prices regained some ground after a conflict in Libya disrupted production, which investors believe will provide some relief to the global over supply of crude oil.

DailyMarket News Summary Data 03/28/17

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