Jun 19 2015

Daily Market Summary Data for 6/19/2015 Posted 9 years 162 days ago by

• Feeder cattle steady with instances of $2 to $3 higher; futures lower.
• Fed cattle cash trade inactive; formula trades lower; futures lower; beef prices higher.
• Cotton higher; futures lower.
• Grains and soybeans mixed.
• Crude oil higher; natural gas lower.
• Stock markets higher.
   

Texas feeder cattle auctions quoted prices steady with instances of $2 to $3 higher. Feeder cattle futures were $2.80 lower, closing at $221.93 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher, with Choice grade gaining $0.43 and Select grade gaining $0.35. Estimated cattle harvest for the week totaled 433,000 head, up 6,000 from last week’s total and down 29,000 from a year ago. Year-to-date harvest is down 6.3%. Fed cattle futures were $1.52 lower, closing at $150.43 per cwt. Net export sales for June 5-11 totaling 8,200 metric tons (MT), were down 50 percent from the previous week, with Mexico, South Korea, and Canada reporting increased purchases. Export shipments of 14,200 MT, a marketing-year high, up one percent from the previous week, went primarily to Japan, South Korea, and Hong Kong.
   

Cotton cash and futures prices were up 0.25 cents and down 0.08 cents, respectively. Export cotton sales were 52,600 bales, up 21 percent from the previous week, with increased purchases for Vietnam, Turkey, and Malaysia. Shipments of 209,000 bales were down 33 percent from the previous week, and 36 percent from the prior four-week average. The primary destinations were China, Vietnam, and South Korea.
   

Corn and grain sorghum prices were lower, with corn cash and futures each closing $0.01 lower than the previous day. Corn export sales were 627,200 MT for the week, up 27 percent from the previous week and three percent from the previous 4-week average. Japan, Mexico, and South Korea had increased purchases. Export shipments of 1,044,900 MT went mainly to Japan, Mexico, and Saudi Arabia. The week’s shipments were 27 percent higher than the previous week’s and six percent higher than the average. Soybean futures prices were $0.09 higher. Soybean export sales were 132,900 MT, down 19 percent from the previous week and 26 percent from the prior four-week average. The Netherlands, Japan, and Indonesia had increased purchases. Export Shipments of 353,900 MT were up 45 percent from the previous week and 38 percent from the prior four-week average. The primary destinations were Mexico, the Netherlands, and Indonesia.
   

Wheat prices were lower, with cash and futures prices each settling $0.08 lower at $4.53 per bushel and $4.98 per bushel, respectively. Net export sales for wheat were 315,700 MT. The top destinations were Japan, Mexico, and Iraq.
   

Stock markets were higher at close yesterday, partly due to an increase in biotechnology shares. Crude oil prices were higher in response to a weaker dollar.

Daily Market Summary Data for 6/19/2015                                          

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