Texas Daily Ag Market News Summary 9/25/15

Posted 9 years 64 days ago by

Feeder cattle auction quoted prices $4 to $12 lower; futures higher.

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

Cotton higher.

Grains and soybeans higher

Crude oil higher; natural gas lower.

Stock markets mostly lower.

Texas feeder cattle auctions quoted prices $4 to $12 lower. Feeder cattle futures were $0.59 higher, closing at $194.81 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were lower, with Choice grade losing $2.62 and Select grade losing $1.82 settling at $212.23 and $209.80 per cwt, respectively. Estimated cattle harvest for the week totaled 560,000 head, on par with last week’s total and up 2,000 from a year ago. Year-to-date harvest is up 0.5%. Fed cattle futures were $3.00 higher, closing at $133.70 per cwt. Net sales of 16,500 MT for reporting period September 11-17 were up 37 percent from the previous week and 36 percent from the prior 4-week average. Increases were reported for Hong Kong, Japan, and South Korea. Exports of 12,300 MT were up 40 percent from the previous week and 25 percent from the prior 4-week average. The primary destinations were Japan, South Korea, and Honk Kong.

Cotton prices were higher with cash prices gaining 0.25 cents and futures prices gaining 0.60 cents settling at 58.62 and 59.64 cents per pound, respectively. Net upland sales totaling 90,800 RB for 2015/2016 were down 6 percent from the previous week, but up 18 percent from the prior 4-week average. Increases were reported for Vietnam, Mexico, and Turkey. Exports of 109,300 RB were up 84 percent from the previous week, but down 3 percent from the prior 4-week average. The primary destinations were Mexico, Indonesia, and Vietnam.

Corn and grain sorghum prices were higher, with corn cash prices gaining $0.07 and corn futures prices gaining $0.07 settling at $3.99 and $3.89 per bushel, respectively. Corn net sales of 426,300 MT for delivery in 2015/2016 were down 20 percent from the previous week. Increases were reported primarily for Mexico, Colombia, and Bangladesh. Exports of 795,400 MT were down 1 percent from the previous week. The primary destinations were Mexico, Japan, and Colombia. Grain sorghum prices gained $0.13 to settle at $6.14 per cwt. Sorghum net sales of 58,200 MT for 2015/2016 were up noticeably from the previous week. Increases reported for China. Exports of 169,300 MT were to China and Mexico

Wheat prices were higher with cash gaining $0.10 to settle at $4.18 per bushel, futures prices also gained $0.10 settling at $5.00 per bushel. Net sales of 282,800 metric tons for delivery in marketing year 2015/2016 were down 25 percent from the previous week and 23 percent from the prior 4-week average. Increases were reported for the Philippines, Japan, and China. Exports of 614,900 MT were up 13 percent from the previous week and 27 percent from the prior-4 week average. The primary destinations were China, Mexico, Colombia.

Stock markets closed mostly lower yesterday, the Dow industrials rose thanks to a selloff in the biotechnology sector. Crude oil prices closed $0.79 higher yesterday settling at $45.70 per barrel.

Daily Market Summary Data 9/25/15

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