Texas Daily Ag Market News Summary 11/6/15

Posted 9 years 23 days ago by

Feeder cattle prices $2 lower to $2 higher; futures steady.

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

Cotton futures lower.

Grains and soybeans mixed.

Crude oil lower; natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices $2 lower to $2 higher per hundredweight. Feeder cattle futures were steady today, closing at $181.62 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing at $133.30. Wholesale boxed beef values were lower, with Choice grade dropping $3.20 to $215.66 per cwt and Select grade dropping $1.40 to $207.25 per cwt. Estimated cattle harvest to date this week totaled 539,000 head, on par with last week and down 18,000 from a year ago. Year-to-date harvest is down 3%. Fed cattle futures settled $0.52 higher at $134.92 per cwt.

Cotton cash prices were steady closing at 60.38 cents per pound, futures prices lost 0.29 cents to settle at 61.66 cents per pound. Net upland sales totaling 147,200 RB for 2015/2016 were up 94 percent from the previous week and 32 percent from the prior 4-week average. Increases were reported for Turkey, Egypt and Vietnam. Exports of 2,500 RB--a marketing-year low--were down 65 percent from the previous week and 57 percent from the prior 4-week average. The primary destinations were Egypt, Vietnam and Bangladesh.

Corn and grain sorghum prices were mixed, with corn cash prices gaining $0.05 and futures prices losing $0.02 to settle at $3.88 and $3.73 per bushel, respectively. Grain sorghum cash prices closed $0.07 higher at $5.91 per cwt. Soybean futures prices were $0.03 higher, closing at $8.71 per bushel. Net sales of corn were 556,000 MT for 2015/2016 were down 22 percent from the previous week, but up 7 percent from the prior 4-week average. Increases reported for Japan, Mexico and Peru. Exports of 492,700 MT were up 14 percent from the previous week and 2 percent from the prior 4-week average. The primary destinations were Mexico, Colombia and Japan.

Wheat cash prices settled $0.12 higher at $4.18 per bushel and futures prices settled $0.04 higher to close at $4.90 per bushel. Net sales of 84,600 metric tons for delivery in marketing year 2015/2016 were down 85 percent from the previous week and 80 percent from the prior 4-week average. Increases were reported for South Korea and Honduras. Exports of 176,900 MT were down 45 percent from the previous week and 52 percent from the prior 4-week average. The primary destinations were Taiwan, Japan and Mexico.

Stock markets closed slightly higher today as investors are preparing for an interest rate increase in the near future. Crude oil prices lost $0.91 to close at $44.29 per barrel.

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Daily Market Summary Data 11/6/15