2015

Posted 9 years 86 days ago by

Feeder cattle quoted prices $2 to $10 higher with instances of $3 lower; futures lower.

Fed cattle cash trade was inactive yesterday; formula trades lower; futures lower; beef prices lower.

Cotton cash steady; futures lower.

Grains and soybeans mixed.

Crude oil lower; natural gas lower.

Stock markets lower.

Texas feeder cattle auctions quoted prices $2 to $10 higher with instances of $3 lower. Feeder cattle futures were $1.20 lower, closing at $201.35 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were lower yesterday, with Choice grade losing $0.90 and Select grade losing $0.64, settling at $240.07 and $228.39, respectively. Estimated cattle harvest for the week totaled 547,000 head, up 7,000 from last week’s total and up 71,000 from a year ago. Year-to-date harvest is up 15%. Fed cattle futures were $0.85 lower, closing at $140.75 per cwt. Net export sales for Aug 21-27 totaling 13,100 metric tons (MT) were up 3 percent from the previous week and 34 percent from the previous 4-week average, with Hong Kong, South Korea, and Japan reporting increased purchases. Export shipments of 10,800 MT were up four percent from the previous week, but down five percent from prior 4-week average. Primary destinations were Japan, South Korea, and Hong Kong.

Cotton cash prices were steady to close at 59.88 cents per pound. Cotton futures lost 0.05 cents to close at 63.07 cents per pound. Export cotton sales were 66,500 bales, with increased purchases for Vietnam, Mexico, and South Korea. Export Shipments of 153,100 bales, up 49 percent from the previous week, were sent primarily to Vietnam, Turkey, and Mexico.

Corn futures prices were higher, gaining $0.02 settling at $3.50 per bushel. Corn export sales of 328,300 MT for 2015/2016 were reported primarily for Panama, Canada, and Mexico. Export shipments of 1,077,200 MT went mainly to Japan, Mexico, and South Korea. The week’s shipments were up 31 percent from the previous week and 20 percent from the previous 4-week average. Soybean futures prices were $0.03 lower setting at $8.77 per bushel. Soybean net sales for 2015/2016 were 1,532,800 MT, primary destinations were China, and Mexico. Export Shipments of 147,800 MT were down 36 percent from the previous week, and 42 percent from the prior four-week average. The primary destinations were Mexico, Japan, and Indonesia.

Wheat futures prices were higher, gaining $0.07, settling at $4.49 per bushel. Net sales for wheat totaled 277,500 MT down 48 percent from the previous week, and 47 percent from the prior 4-week average. The top destinations were Mexico, Italy, and The Philippines. Net exports of 530,400 were up 49 percent from the previous week and 27 percent from the prior 4-week average. Primary destinations were Japan, the Philippines, and Italy

Stock markets closed lower yesterday, on news that the U.S. jobs report was lower than expected, which investors saw as a potential sign that the Federal Reserve might raise short-term interest rates this month. Crude oil prices also closed lower yesterday, following the stock markets lead after the U.S. jobs report showed weaker-than-expected results.

DailyMarket Summary Data for 9/04/2015

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Agri-Pulse:

WASHINGTON, Sept. 4, 2015 - Karis Gutter, a former USDA deputy undersecretary for Farm and Foreign Agricultural Services (FFAS), will join DuPont as its government affairs manager, the company announced today. In his new post, Gutter will focus on agricultural and nutrition businesses, the biotech and chemicals giant said in a release.

“Karis will be a strong addition to our federal affairs team in Washington, D.C.,” said Barry Granger, the vice president of government affairs at DuPont. “Karis' background and experience in the military, on Capitol Hill and with the United States Department of Agriculture (USDA) will add an excellent foundation of knowledge to our Washington federal team.”

Before serving as deputy undersecretary for FFAS in the Obama administration, Gutter was the senior advisor to the secretary of agriculture and the deputy administrator of field operations for USDA's Farm Service Agency. A Marine Corps Reserve veteran, he was also appointed as USDA's first Military Veterans Agricultural Liaison, a position created by the 2014 Farm Bill, to connect returning veterans with agricultural programs and advocate on behalf of veterans and veterans support organizations.

“I'm energized by the move to DuPont,” Gutter said. “I'm ready for a new challenge and DuPont has a good mix of agriculture, materials science and biotechnology that fit my background and interests.”

Gutter also worked on Capitol Hill as staff for the House Committee on Homeland Security, and as deputy chief of staff and legislative director for Rep. Bennie Thompson of Mississippi.

Rep. Thompson called Gutter's move to Dupont “brilliant… considering Karis' depth of policy knowledge and keen political awareness.”