Texas Daily Ag Market News Summary 7/31/15

Posted 9 years 120 days ago by

Feeder cattle $2 to $7 lower; futures lower.
Fed cattle cash trade inactive; formula trades lower; futures higher; beef prices higher.
Cotton lower.
Grains and soybeans mostly higher.
Crude oil lower; natural gas lower.
Stock markets mixed.

Texas feeder cattle auctions quoted prices $2 to $7 lower. Feeder cattle futures were $0.25 lower, closing at $211.23 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher, with Choice grade gaining $0.72 and Select grade gaining $0.25. Estimated cattle harvest for the week totaled 427,000 head, down 9,000 from last week’s total and 24,000 from a year ago. Year-to-date harvest is down 5.3%. Fed cattle futures were $0.32 higher, closing at $145.25 per cwt. Net export sales for July 17 – July 23 totaling 6,200 metric tons (MT) were down 39 percentage points from the previous week and 46 percent from the previous 4-week average, with Japan, Canada, and Mexico reporting increased purchases. Export shipments of 11,700 MT were down eight percent from the previous week and went primarily to Japan, South Korea, and Mexico.

Cotton cash prices lost 0.25 cents to settle at 59.13 cents per pound and futures prices lost 0.23 cents to settle at 63.66 cents per pound. Export cotton sales were 23,300 bales, down 75 percent from the previous week, with increased purchases reported for Vietnam, Indonesia, and Hong Kong. Shipments of 168,500 bales were down three percent from the previous week and 10 percent from the prior four-week average. The primary destinations were Vietnam, Turkey, and Indonesia.

Corn and grain sorghum prices were higher yesterday, as corn cash and futures prices both gained $0.05 to settle at $3.99 per bushel and $3.73 per bushel, respectively. Grain sorghum prices gained $0.10 to settle at $6.84 per cwt. Corn export sales were 364,900 MT for the week, up 63 percent from the previous week, but down 13 percent from the previous 4-week average. Columbia, Japan, and Egypt had increased purchases. Export shipments of 1,072,700 MT went mainly to Japan, Mexico, and South Korea. The week’s shipments were seven percent lower than the previous week’s, but unchanged from the average. Soybean futures prices were $0.07 lower. Soybean export sales were 416,700 MT, up noticeably from the previous week and from the prior four-week average. China, Japan, and Taiwan had increased purchases. Export Shipments of 128,600 MT were down 59 percent from the previous week and 47 percent from the prior four-week average. The primary destinations were the Japan, Mexico, and Indonesia.

Wheat prices were lower, with cash prices losing $0.03 and futures prices losing $0.04, settling at $4.37 per bushel and $4.91 per bushel, respectively. Net export sales for wheat were 699,400 MT, with increases reported for Mexico, Taiwan, and Italy.

Stock markets closed relatively flat yesterday, as investors continued to concentrate on recent corporate earnings reports. Crude oil prices lost $0.27 yesterday to close at $48.52 per barrel, responding to a stronger dollar.

Daily Market Summary Data for 7/31/2015

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