Jun 13 2017

Texas Daily Ag Market News Summary 06/13/17 Posted 6 years 311 days ago by

Feeder cattle auctions lower; Futures lower.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures steady.

Crude oil higher; Natural gas lower.

Stock markets higher.                

                      

 

Texas feeder cattle auctions reported prices steady to $5 lower. August Feeder cattle futures were $1.60 lower, to close at $149.95 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. June Fed cattle futures were 85 cents lower, closing at $127.50 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.33 to close at $251.19 per cwt and Select grade losing 32 cents to close at $221.45 per cwt. Estimated cattle harvest for the week totaled 234,000 up 1,000 from last week’s total and 12,000 from a year ago. Year-to-date harvest is up 5.4%. For the time period of June 5-11 the USDA NASS Field Office reported that livestock was mostly in good condition across the state. Flies were causing problems to cattle and horses in the Blacklands. Pastures responded well to recent rainfall and conditions were mostly fair to good statewide. However, in southern parts of the state, pasture and range conditions were declining due to hot dry weather.

 

Cotton prices were lower with cash prices losing 0.75 cents to close at 72.50 cents per pound and July futures losing 0.65 cents to close at 74.48 cents per pound. The USDA NASS Field Office reported that cotton planting made good progress in the High Plains and the Edwards Plateau. Cotton in southern parts of the state was in the squaring stage.

 

Corn prices were higher with cash and July futures both gaining 4 cents and both closing at $3.81 per bushel. Grain Sorghum cash prices were 7 cents higher, closing at $5.65 per cwt. The USDA NASS Field Office reported that sorghum in South Texas was being sprayed in preparation for harvest. Head worms damaged sorghum fields in areas of the Coastal Bend

 

Wheat prices were higher with cash and July futures both gaining 14 cents to close at $3.91 per bushel and $4.57 per bushel, respectively. The USDA NASS Field Office reported that wheat harvest continued in the Plains, the Blacklands and North East Texas. Areas of the Northern High Plains continued to wait for wheat to ripen and anticipated harvest starting in the coming week

 

Milk prices were steady with June Class III milk futures remaining at $16.31 per cwt.

 

Stock markets closed higher today, as Technology shares reversed recent declines and lifted U.S. markets from yesterday’s losses. July Crude oil futures were 38 cents higher, closing at $46.46 per barrel.

 

Daily Market News Summary Data 06/13/17

 

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