Texas Daily Ag Market News Summary 10/30/15

Posted 9 years 30 days ago by

Feeder cattle auction quoted steady prices with instances of $1 to $5 higher; futures lower.

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

Cotton higher.

Grains and soybeans higher.

Crude oil higher; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions quoted steady prices, with instances of $1 to $5 higher. Feeder cattle futures were $2.25 lower, closing at $190.90 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were mixed, with Choice grade losing $0.89 and Select grade gaining $0.52, settling at $220.04 and $212.07 per cwt, respectively. Estimated cattle harvest for the week totaled 539,000 head, down 9,000 from last week’s total and on par with a year ago. Fed cattle futures were $0.87 lower, closing at $139.25 per cwt. Net sales of 400 MT for 2015--a marketing-year low--resulted as increases for South Korea, Canada and Egypt. Exports of 12,300 MT were unchanged from the previous week, but up 6 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 0.99 cents, closing at 61.87 cents per pound. Futures prices gained 1.00 cents settling 63.32 cents per pound. Net upland sales totaled 76,100 RB for 2015/2016 and were down 22 percent from the previous week and 38 percent from the prior 4-week average. Increases were reported for Mexico, Pakistan and Vietnam. Exports of 7,100 RB were up 68 percent from the previous week and 29 percent from the prior 4-week average. The primary destinations were China, Pakistan and India.

Corn and grain sorghum prices were higher, with corn cash and futures prices both gaining $0.02, settling at $3.92 and $3.82 per bushel, respectively. Net corn sales of 708,800 MT for 2015/2016 were up noticeably from the previous week and 34 percent from the prior 4-week average. Increases reported for Mexico, Colombia and Peru. Exports of 433,300 MT were up 6 percent from the previous week, but down 25 percent from the prior 4-week average. The primary destinations were Mexico, Colombia and Peru. Grain Sorghum cash prices gained $0.03, settling at $6.02 per cwt.

Wheat prices were higher with cash prices gaining $0.05, settling at $4.12. Futures prices gained $0.06 and settled at $4.94 per bushel. Soybean futures prices gained $0.05 settling at $8.84 per bushel. Net wheat sales of 550,300 metric tons for delivery in marketing year 2015/2016 were up 54 percent from the previous week and 86 percent from the prior 4-week average. Increases were reported for South Korea, the Philippines and Thailand. Exports of 320,200 MT were up 51 percent from the previous week, but down 26 percent from the prior 4-week average. The primary destinations were South Korea, the Philippines and Mexico.

Stock markets closed lower today, still remaining in positive territory for the month of October. Crude oil prices closed $0.53 higher today, settling at $46.59 per barrel.

Daily Market Summary Data 10/30/15

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