Texas Daily Ag Market News Summary 8/14/15

Posted 9 years 107 days ago by

Feeder cattle steady to $5 higher; futures higher.
Fed cattle cash trade inactive; formula trades higher; futures higher; beef prices mixed.
Cotton higher.
Grains and soybeans mostly higher.
Crude oil lower; natural gas lower.
Stock markets lower.

Texas feeder cattle auctions quoted prices steady to $5 higher. Feeder cattle futures were $0.15 higher, closing at $214.03 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were mixed, with Choice grade gaining $1.07 and Select grade losing $0.32. Estimated cattle harvest for the week totaled 429,000 head, up 2,000 from last week’s total and down 27,000 from a year ago. Year-to-date harvest is down 5.9%. Fed cattle futures were $0.15 higher, closing at $148.85 per cwt. Net export sales for July 31 – August 6 totaling 12,300 metric tons (MT) were up noticeably from the previous week and 46 percent from the previous four-week average, with Japan, South Korea, and Hong Kong reporting increased purchases. Export shipments of 10,400 MT were down one percent from the previous week and 12 percent from the prior 4-week average and went primarily to Japan, South Korea, and Mexico.

Cotton cash prices gained 0.75 cents to settle at 61.38 cents per pound, futures prices gained 1.30 cents to settle at 67.15 cents per pound. Export cotton sales beginning August 1 totaled 96,900 bales, with increased purchases reported for Vietnam, Turkey, and Taiwan. Export Shipments for August 1 – 6 totaled 99,600 bales. The primary destinations were Vietnam, Mexico, and Turkey.

Corn and grain sorghum prices were mostly higher yesterday, as corn cash and futures prices both gained $0.07 to settle at $3.90 per bushel, and $3.64 per bushel, respectively. Grain sorghum prices lost $0.06 to settle at $6.45 per cwt. Corn export sales were down noticeably from the previous week and 87 percent from the previous four-week average. South Korea, Egypt, and Venezuela had increased purchases. Export shipments of 840,600 MT went mainly to Mexico, Japan, and Egypt. The week’s shipments were down 16 percent from the previous week and 23 percent from previous four-week average. Soybean futures prices were $0.42 higher. Soybean export sales were 96,300 MT, down noticeably from the previous week and, but up noticeably from the prior four-week average. Indonesia, Morocco, and Taiwan had increased purchases. Export Shipments of 178,100 MT were down 16 percent from the previous week and 14 percent from the prior four-week average. The primary destinations were Indonesia, Mexico, and Colombia.

Wheat cash and futures prices both gained $0.10 to settle at $4.28 per bushel and $4.85 per bushel, respectively. Net export sales for wheat were 421,600 MT, with increases reported for the Philippines, Mexico, and China.

Stock markets closed lower yesterday, amid continuing concerns about Chinese industry growth. Crude oil prices lost $1.07 yesterday to close at $42.23 per barrel, due to a combination of a strengthening dollar and the global crude glut.

Daily Market Summary Data for 8/14/2015

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