Agriculture Market Summary
Skip to content
Search
(800)-Tell-TDA
835-5832

weekly-market-recap2

Jun
16
2015

Daily Market Summary Data for 6/16/2015

Posted 9 years 172 days ago by

  • Feeder cattle mostly steady with instances of $1 to $4 lower; futures higher.
  • Fed cattle cash trade inactive; formula trades reporting after no news yesterday; futures lower; beef prices higher.
  • Cotton lower.
  • Grains mostly lower; soybeans slightly lower.
  • Crude oil lower; natural gas higher.
  • Stock markets lower.

   

Texas feeder cattle auctions quoted prices mostly steady with instances of $1 to $4 lower. Feeder cattle futures settled $0.45 higher to close at $223.90 per hundredweight (cwt). The Texas fed cattle cash market was inactive Monday. Wholesale boxed beef values were higher, with Choice Grade settling at $247.33 per cwt and Select Grade at $240.46 per cwt. Estimated cattle harvest for the week totaled 111,000 head, down 1,000 from last week’s total and down 2,000 from last year. Year-to-date harvest is down 1.8%. Fed cattle futures were $0.27 lower, closing at $152.18 per cwt.

Cotton prices were lower, with cash down 0.75 cents and futures 0.86 cents, to settle at 61.63 cents per pound and 63.21 cents per pound, respectively. For the reporting period of June 8-14, the USDA NASS Texas field office indicated that row crops across the state continued to progress as planting continued. In areas of the Trans-Pecos, some cotton producers began replanting cotton. Eighty-eight percent of cotton acreage has been planted, up 13 percentage points from the previous week, but down four percentage points from last year.

Corn and grain sorghum prices were mostly lower, with corn cash prices losing $0.01 and futures losing $0.05. Grain sorghum cash prices rose $0.01 to close at $6.58 per cwt. Soybean futures prices were $0.02 lower, closing at $9.38 per bushel. Of the 98 percent of corn acreage that has been planted, 94 percent has emerged, six percentage points below the same time last year. 

Wheat cash and futures prices each settled $0.17 lower to close at $4.64 per bushel and $5.09 per bushel, respectively. Forty-seven percent of the Texas wheat crop has been harvested, with 48% of wheat acreage in Good to Excellent condition. 

Stock markets closed lower yesterday, as bailout talks between Greece and its creditors suffered setbacks. Crude oil prices fell $0.44 to close at $59.52 per barrel, sustaining loses as OPEC raised oil output to the organization’s highest level since October 2012.

 

From the Weekly Recap:

AUSTIN – (June 15, 2015) For the week ending June 13, 2015, Texas auctions quoted feeder cattle prices mostly steady, with instances of sales ranging from $10 lower to $8 higher per hundredweight (cwt). Texas weekly direct feeder cattle sales were mostly steady to $2 lower, with instances of $3 to $4 lower. Wholesale beef values were higher, with Choice Grade gaining $1.07 to close at $245.72 per cwt and Select Grade gaining $2.85 to close at $240.42 per cwt. Net export sales for May 29-June 4 were up 40 percent from the previous week. Export shipments were up 15 percent from the previous week, and shipments primarily went to Japan, Hong Kong and South Korea.

Cotton cash prices were 0.75 cents lower the previous week and closed at 62.38 cents per pound. July futures prices settled at 64.07 cents per pound, 0.06 cents higher than last week. For the reporting period of June 1-7, the USDA NASS Texas field office indicated that row crops across the state continued to progress as planting resumed in many areas. Seventy-five percent of cotton acreage has been planted, up 29 percentage points from the previous week but down seven percentage points from last year. Net export cotton sales were down 59 percent from the previous week’s sales. Shipments were up 41 percent from the previous week but down 21 percent from the average. 

Wheat cash prices lost $0.09 to settle at $4.81 per bushel. Futures prices also lost $0.09 to settle at $5.26 per bushel. The USDA NASS Texas field office reported that 100 percent of the Texas wheat crop is in the heading stage, with 50 percent of the acreage in good-to-excellent condition. Eighty-two percent of the Texas Winter Wheat crop remains in fair-to-excellent condition. Net export sales for wheat were 376,700 MT. Shipments were 25 percent lower than the previous year’s total. 

Texas corn prices were lower, with cash prices down to $3.76 per bushel and futures prices down to $3.53 per bushel. The USDA NASS Texas field office reported 88 percent of the planted Texas corn crop has emerged, which is 10 higher than this same point last year. Ninety-three percent of Texas corn acreage had been planted, which is up 10 percentage points from last week but down seven percent from the same period last year. Corn export sales were up seven percent from the previous week but down 14 percent from the four-week average. Export shipments were 14 percent lower than the previous week and 22 percent lower than the average.

According to USDA NASS, areas of the Northern High Plains, the Trans-Pecos, the Upper Coast and South Texas experienced upwards of three inches of rainfall, while the rest of the state received little to no measurable precipitation. Last week’s U.S. Drought Monitor for Texas showed an improvement in drought conditions for the state, with only about eight percent of Texas still experiencing some stage of drought intensity. Additionally, none of the state remains in severe, extreme or exceptional drought. On the national level, drought conditions improved slightly with approximately 40 percent of the U.S. experiencing abnormal dryness or some degree of drought. 

 

 

Daily Market Summary Data for 6/16/2015

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