Texas markets

Periodic updates on grain and livestock futures markets

(Illustration by Nick Scalise)

OMAHA (DTN) – After Friday’s open at 8:30 a.m. CDT, wheat prices are starting with small gains after the National Weather Service’s rain forecast shifted a little southerly, limiting the benefits of conditions fall sowing for winter wheat. KC September wheat is up 3 1/4 cents and Minneapolis September wheat is up 1 1/4 cents. December corn is down 1/2 cent and November soybeans are down 12 3/4 cents, chopping mostly sideways as traders wait for more evidence of yield. September crude oil is down $0.01 and Dow Jones futures are down 203 points. The US dollar index is up 0.52 after Germany reported higher than expected producer prices in July. August Gold is down $2.30.

Posted 08:36 AM — October Live Cattle are up $0.38 at $145.125, September Feeder Cattle are down $0.25 at $185.025, October Lean Hogs are up down $0.03 at $93.275, December Corn is flat and December Soybean Meal is down $5.80. The Dow Jones Industrial Average is down 208.49 points. The cash cattle market has a single offer of $141-$142 offered in Texas, but otherwise the market sits idle. Friday afternoon’s Cattle on Feed report will be worth watching as placements could be a wildcard. It’s unclear whether or not analysts factored in the big Texas drought sell-off push.