Texas Daily Ag Market News Summary 10/16/15

Posted 9 years 44 days ago by

Feeder cattle auction quoted mixed prices of $3 to $10 higher; futures higher.

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

Cotton higher.

Grains and soybeans mixed.

Crude oil higher; natural gas lower.

Stock markets mostly higher.

Texas feeder cattle auctions quoted prices of $3 to $10 higher. Feeder cattle futures were $4.03 higher, closing at $193.80 per hundredweight (cwt). The Texas fed cattle cash trade was inactive yesterday. Wholesale boxed beef values were mixed, with Choice grade gaining $0.47 and Select grade losing $0.87 settling at $211.69 and $206.36 per cwt, respectively. Estimated cattle harvest for the week totaled 553,000 head, up 9,000 from last week’s total and 6,000 from a year ago. Fed cattle futures were $2.05 higher, closing at $135.95 per cwt. Net sales of 14,000 MT for 2015 were up 69 percent from the previous week and 23 percent from the prior 4-week average. Increases were reported for South Korea, Hong Kong and Mexico. Exports of 11,700 MT were up 1 percent from the previous week and 7 percent from the prior 4-week average. The primary destinations were Japan, Hong Kong and South Korea

Cotton prices were higher with cash prices gaining 0.50 cents, closing at 61.62 cents per pound. Futures prices gained 0.41 cents settling 63.85 cents per pound. Net upland sales totaling 67,300 RB for 2015/2016 were down 68 percent from the previous week and 47 percent from the prior 4-week average. Increases were reported for Indonesia, Vietnam and South Korea. Exports of 67,400 RB were down 47 percent from the previous week and 26 percent from the prior 4-week average. The primary destinations were Mexico, Vietnam and Turkey.

Corn and grain sorghum prices were higher, with corn cash and futures prices both gaining $0.02 settling at $3.87 and $3.78 per bushel, respectively. Net sales of 598,400 MT for 2015/2016 were up 15 percent from the previous week. Increases reported for Mexico, Colombia and Japan. Grain sorghum prices gained $0.02 to settle at $5.92 per cwt.

Wheat prices were lower with cash prices losing $0.14 and futures prices losing $0.12 settling at $4.01 and $4.84 per bushel, respectively. Net sales of 460,400 metric tons for delivery in marketing year 2015/2016 were up 60 percent from the previous week and 80 percent from the prior 4-week average. Increases were Yemen, Japan and Nigeria. Exports of 374,700 MT were down 34 percent from the previous week and 35 percent from the prior 4-week average. The primary destinations were the Philippines, Japan and Yemen.

Stock markets closed higher yesterday, as third-quarter results were relatively well-received by investors. Crude oil prices closed $0.88 higher yesterday, settling at $47.26 per barrel.

Daily Market Summary Data 10/16/15

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