Texas Daily Ag Market News Summary 12/4/15

Posted 8 years 360 days ago by

Feeder cattle auctions reported prices $3 to $10 lower; futures lower.

Fed cattle cash trade active; futures lower; beef prices lower.

Cotton higher.

Grains and soybeans higher.

Crude oil lower; natural gas higher.

Stock markets higher.

Texas feeder cattle auctions reported prices $3 to $10 lower. Feeder cattle futures were $0.30 lower, closing at $159.45 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing at $124.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $1.89 closing at $202.60 per cwt; select grade lost $1.53 closing at $191.49 per cwt. Fed cattle futures were $1.43 lower, closing at $124.27 per cwt. Estimated cattle harvest for the week totaled 542,000 head, up 13,000 from last week and down 2,000 from last year’s total.

Cotton prices were higher with cash prices gaining 1.25 cents and futures prices gaining 1.37 cents to close at 62.37 and 63.23 cents per pound, respectively. Net upland sales totaled 287,100 round bales (RB) for 2015/2016--a marketing-year high—and were up seven percent from the previous week and 56 percent from the prior 4-week average. Increases were reported for Vietnam, Turkey and Bangladesh. Exports totaled 80,600 RB and were down 11 percent from the previous week and 15 percent from the prior 4-week average. The primary destinations were Mexico, Vietnam and Turkey.

Corn prices were higher, with corn cash prices gaining $0.04 to close at $3.85; December corn futures gained $0.06 to close at $3.76 per bushel. Net sales totaled 499,400 metric tons (MT) for 2015/2016 and were down 76 percent from the previous week and 50 percent from the prior 4-week average. Increases were reported for Mexico, Japan and Guatemala. Exports of 373,800 MT were down 30 percent from the previous week and 11 percent from the prior 4-week average. The primary destinations were Japan, Mexico and Peru.

Wheat prices were higher with cash prices gaining $0.04 to close at $3.91 per bushel; futures prices gained $0.05 to close at $4.64 per bushel. Net sales totaled 392,200 MT for delivery in 2015/2016 and were up 29 percent from the previous week and 17 percent from the prior 4-week average. Increases were reported for China, South Korea and Mexico. Exports of 399,000 MT were up 54 percent from the previous week and 56 percent from the prior 4-week average. The primary destinations were China, South Korea and the Philippines.

Stock markets were higher today, leading to the biggest point gain in almost three months. The rise in stocks came after the U.S. jobs report supported the case for an interest rate increase from the Federal Reserve. Crude oil prices were lower, losing $1.11 closing at $39.97 per barrel.

Daily Market Summary Data 12/4/15

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