Texas Daily Ag Market News Summary 11/20/15

Posted 9 years 9 days ago by

Feeder cattle auction quoted steady prices, with instances of $3 to $11 lower; futures higher.

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

Cotton lower.

Grains and soybeans lower.

Crude oil lower; natural gas lower.

Stock markets higher.

Texas feeder cattle auctions quoted steady prices, with instances of $3 to $11 lower. Feeder cattle futures were $$0.55 higher, closing at $163.65 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $1.69 settling at $203.14 per cwt; select grade lost $2.39 settling at $190.95 per cwt. Estimated cattle harvest for the week totaled 541,000 head, up 14,000 from last week’s total and down 15,000 from a year ago. Year-to-date harvest is down 3%. Fed cattle futures were $0.20 lower, closing at $129.70 per cwt.

Cotton prices were lower with cash prices losing 0.01 cents to settle at 61.12 cents per pound; futures prices lost 1.54 cents, settling at 60.04 cents per pound. Net upland sales totaled 194,400 Round Bales for 2015/2016 and were up 52 percent from the previous week and 74 percent from the prior 4-week average. Increases were reported for Turkey, Thailand and Vietnam. Exports totaled 53,800 RB--a marketing-year low—and were down 24 percent from the previous week and 41 percent from the prior 4-week average. The primary destinations were Mexico, Indonesia and South Korea.

Corn and grain sorghum prices were lower, with corn cash and futures prices both losing $0.01 to settle at $3.73 and $3.63 per bushel, respectively. Grain sorghum cash prices were lower losing $0.02 to settle at $5.68 per cwt. Net sales of corn totaled 779,800 MT for 2015/2016--a marketing-year high—and were up 26 percent from the previous week and 46 percent from the prior 4-week average. Increases were reported for Mexico, Japan and South Korea. Exports totaled 389,000 MT, and were up 44 percent from the previous week, but down 3 percent from the prior 4-week average. The primary destinations were Mexico, Japan and Peru.

Wheat prices were lower with cash and futures prices both losing $0.06, settling at $3.76 and $4.57 per bushel, respectively. Net sales were 721,900 metric tons for delivery in marketing year 2015/2016 and were up noticeably from the previous week and from the prior 4-week average. Increases were reported for Thailand, Nigeria and Taiwan. Exports totaled 347,000 MT and were up 45 percent from the previous week and 46 percent from the prior 4-week average. The primary destinations were the Philippines, Nigeria and Japan.

Stock markets were higher today, brought up by an increase in health-care and technology shares. Crude oil prices closed $0.15 lower, settling at $40.39 per barrel.

Daily Market Summary Data 11/20/15

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