Texas Daily Ag Market News Summary 4/17/15

Posted 9 years 225 days ago by

· Feeder cattle $3 lower to $3 higher; futures higher.

· Fed cattle cash trade reporting yesterday after inactivity the previous day; formula trades lower; futures higher; beef prices lower.

· Cotton lower.

· Grains and soybeans mixed.

· Crude oil higher; natural gas higher.

· Stock markets lower.

Texas feeder cattle auctions quoted prices $3 lower to $3 higher. Feeder cattle futures were higher for a third consecutive session. The Texas fed cattle cash trade reported losses from the last reported numbers on Tuesday. Wholesale boxed beef values were lower. Estimated cattle harvest for the week totaled 429,000 head, up 21,000 from the previous week’s total, but down 27,000 from a year ago. Year-to-date harvest is down 5.9%. Fed cattle futures were higher, sustaining daily gains since markets closed on Monday. Net export sales for April 3-9 totaled 11,200 metric tons (MT), down three percent from the previous week, with Japan, South Korea, and Mexico as the top buyers. Export shipments of 12,700 MT, up six percent from last week, went primarily to Japan, Hong Kong, and South Korea.

Cotton cash and futures prices were 0.50 and 0.58 cents lower, respectively. Export cotton sales were 52,500 bales, 14.9% higher than last week with increased purchases for Vietnam, Indonesia, and Thailand. Shipments of 201,500 bales were down 54 percent from the previous week and 40 percent from the prior four-week average. The primary destinations were China, Vietnam, and Turkey.

Corn and grain sorghum prices saw little change, with corn futures closing unchanged from the previous day. Corn export sales were 588,200 MT for the week, down 8% from the previous week, but up 19% from the previous 4-week average. South Korea, China, and Japan had increased purchases. Export shipments of 870,900 MT went mainly to Japan, South Korea, and Mexico. The week’s shipments were 26% lower than the previous week’s and four percent lower than the average. Soybean futures prices were $0.01 higher. Soybean export sales were 312,600 MT. Germany, the Netherlands, and unknown destinations had increased purchases. Export Shipments were up seven percent from the previous week, but down 13 percent from the prior four-week average. The primary destinations were China, Germany, and the Netherlands.

Wheat prices closed lower, with cash prices settling at $4.71 per bushel and futures prices closing at $5.08 per bushel. Net export sales for wheat were 47,900 MT, down 85% from last week and 80% from the prior 4-week average. Increased sales were reported for Egypt, Ecuador, and Peru. Shipments were 383,800 MT, two percent higher than the previous week, but 10% lower than the weekly average. The top destinations were Egypt, the Dominican Republic, and Taiwan.

Stock markets were lower at close yesterday despite positive earnings reports and multiple companies making market debuts. Crude oil prices were higher, posting a $0.320 gain. The closing price of $56.71 per barrel is a record high for 2015.

Daily Market Summary Data for 4/17/2015

If you are interested in receiving this daily report, please subscribe here.