Nov 13 2015

Texas Daily Ag Market News Summary 11/13/15 Posted 8 years 188 days ago by

Feeder cattle prices $2 to $12 lower; futures lower.

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

Cotton futures lower.

Grains and soybeans lower.

Crude oil lower; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices $2 to $12 lower per hundredweight. Feeder cattle futures were lower today, closing at $170.07 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Wholesale boxed beef values were lower, with Choice grade losing $2.50 to settle at $209.30 per cwt and Select grade losing $1.43 to settle at $199.05 per cwt. Estimated cattle harvest to date this week totaled 527,000 head, down 12,000 from last week’s total and 17,000 from a year ago. Year-to-date harvest is down 3.1%. Fed cattle futures settled $2.48 lower at $130.67 per cwt. For the period October 30-November 5, 2015 net sales totaled 8,100 MT for 2015 were up noticeably from the previous week and up 19 percent from the prior four-week average. Increases were reported for Mexico, South Korea and Japan. Exports totaled 13,300 MT and were up 10 percent from the previous week and from the prior four-week average. The primary destinations were Japan, Hong Kong, and South Korea.

Cotton cash prices were steady, staying at 60.37 cents per pound. Futures prices were lower, dropping 0.16 cents to settle at 61.68 cents per pound. Net upland sales totaled 127,900 RB for 2015/2016 and were down 13 percent from the previous week, but up 32 percent from the prior four-week average. Increases were reported for Vietnam, Turkey and China. Exports of 71,100 RB were down 57 percent from the previous week and 21 percent from the prior four-week average. The primary destinations were Mexico, Turkey and Vietnam.

Corn and grain sorghum prices were lower, with corn cash and futures prices both losing $0.04 to settle at $3.68 and $3.58 per bushel, respectively. Grain sorghum cash prices were lower losing $0.11, to close at $5.55 per cwt. Corn net sales totaled 618,600 MT for 2015/2016 and were up 11 percent from the previous week and 17 percent from the prior four-week average. Increases were reported for Mexico, Japan and Colombia. Exports of 270,900 MT were down 45 percent from the previous week and 44 percent from the prior four-week average. The primary destinations were Mexico, Japan and El Salvador.

Wheat prices were higher, with cash gaining $0.01 and futures prices gaining $0.02 to settle at $3.84 and $4.66 per bushel, respectively. Net sales totaled 226,670 metric tons for delivery in marketing year 2015/2016 were up noticeably from the previous week, but down 38 percent from the prior four-week average. Increases were reported for the Philippines, Mexico and Israel. Exports totaled 239,300 MT and were up 35 percent from the previous week, but down12 percent from the prior four-week average. The primary destinations were Nigeria, Mexico and Guatemala.

Stock markets closed lower today, as investors are preparing for the Federal Reserve to raise interest rates as soon as December. Crude oil prices lost $1.01 to close at $40.74 per barrel.

If you are interested in receiving this daily report, please subscribe here.