2017

Posted 7 years 14 days ago by

Feeder cattle auction reported lower prices; Futures higher.

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

Cotton futures lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 lower. April Feeder cattle futures were $1.43 higher, closing at $131.95 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were 53 cents higher, closing at $118.80 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.81 to close at $207.90 per cwt and Select grade losing 23 cents to close at $200.28 per cwt. Estimated cattle harvest for the week totaled 448,000 down 8,000 from last week’s total and up 12,000 from a year ago. Year-to-date harvest is up 2.8%.

Cotton prices were mixed with cash prices remaining at 74.00 cents per pound and May futures losing 0.36 cents to close at 74.51 cents per pound.

Corn prices were lower with cash and May futures both losing 4 cents to close at $3.55 per bushel and $3.61 per bushel, respectively. Grain Sorghum cash prices were 7 cents lower, closing at $5.31 per cwt.

Wheat prices were lower with cash prices losing 4 cents to close at $3.35 per bushel and May futures losing a nickel to close at $4.20 per bushel.

Milk prices were lower with April Class III milk futures losing 18 cents to close at $15.14 per cwt.

Stock markets closed higher today, as energy shares posted gains behind rising crude oil prices. May Crude oil futures were 55 cents higher, closing at $51.70 per barrel.

This week’s U.S. Drought Monitor for Texas showed a vast improvement in drought conditions for the state, with 17.51 percent of Texas still in some stage of drought intensity, down 27.43 percentage points from last week. On the national level, drought conditions improved, with 29.73 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 5.86 percentage points from last week.

DailyMarket News Summary Data 04/06/17

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