Texas Daily Ag Market News Summary 6/26/15

Posted 9 years 155 days ago by

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

Texas feeder cattle auctions quoted prices steady to $3 higher. Feeder cattle futures were $4.50 lower, closing at $219.05 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were lower, with Choice grade losing $0.96 and Select grade losing $0.26. Estimated cattle harvest for the week totaled 437,000 head, up 4,000 from last week’s total and down 25,000 from a year ago. Year-to-date harvest is down 5.4%. Fed cattle futures were $2.18 lower, closing at $148.50 per cwt. Net export sales for June 12-18 totaling 11,500 metric tons (MT) were up 40 percent from the previous week, but down 20 percent from the previous 4-week average, with Mexico, South Korea, and Japan reporting increased purchases. Export shipments of 13,800 MT were down three percent from the previous week and went primarily to Japan, South Korea, and Canada.

Cotton cash and futures prices were down 0.75 cents and up 1.12 cents, respectively. Export cotton sales were 60,500 bales, up 15 percent from the previous week, with increased purchases for Vietnam, Turkey, and Indonesia. Shipments of 187,600 bales were down 10 percent from the previous week, and 35 percent from the prior four-week average. The primary destinations were China, Turkey, and Indonesia.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.10 and corn futures prices gaining $0.11. Corn export sales were 496,800 MT for the week, down 21 percent from the previous week and 11 percent from the previous 4-week average. Japan, Columbia, and South Korea had increased purchases. Export shipments of 1,126,000 MT went mainly to Japan, Mexico, and South Korea. The week’s shipments were eight percent higher than the previous week’s and 16 percent higher than the average. Soybean futures prices were $0.18 higher. Soybean export sales were 118,800 MT, down 11 percent from the previous week and 37 percent from the prior four-week average. Mexico, Japan, and Pakistan had increased purchases. Export Shipments of 150,000 MT were down 58 percent from the previous week and 49 percent from the prior four-week average. The primary destinations were Mexico, Japan, and Taiwan.

Wheat prices were higher, with cash prices rising $0.07 and futures prices rising $0.10, settling at $4.90 per bushel and $5.35 per bushel, respectively. Net export sales for wheat were 434,300 MT. The top destinations were Japan, Mexico, and Taiwan.

Stock markets closed lower yesterday, amid concerns that negotiations on the Greek bailout deal would extend into the weekend. Crude oil prices also closed lower yesterday, as inventories of refined fuel continued to increase.

Daily Market Summary Data for 6/26/2015

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