Texas Daily Ag Market News Summary 12/11/15

Posted 8 years 157 days ago by

Feeder cattle auctions reported prices $1 to $9 lower; futures lower.

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

Cotton lower.

Grains and soybeans lower.

Crude oil lower; natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices $1 to $9 lower. Feeder cattle futures were $0.93 lower, closing at $152.12 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $0.58 to close at $202.50 per cwt; select grade lost $2.04 to close at $186.43 per cwt. Fed cattle futures were $0.10 lower, closing at $121.45 per cwt. Estimated cattle harvest for the week totaled 560,000 head, up 18,000 from last week and 6,000 from last year’s total. Net beef sales totaled 7,500 metric tons (MT) for 2015 and were up 40 percent from the previous week, but down 15 percent from the prior four-week average. Increases were reported for Japan, South Korea and Hong Kong. Exports totaled 12,900 MT and were up 15 percent from the previous week and five percent from the prior four-week average. The primary destinations were Japan, Hong Kong and South Korea.

Cotton prices were mixed with cash remaining at 62.12 cents per pound; March futures prices lost 0.06 cents to close at 63.71 cents per pound. Net upland sales totaled 78,700 round bales (RB) for 2015/2016 and were down 73 percent from the previous week and 64 percent from the prior four-week average. Increases were reported for Turkey, South Korea and China. Exports of 111,800 RB were up 39 percent from the previous week and 51 percent from the prior four-week average. The primary destinations were Mexico, Vietnam and Turkey.

Corn prices were lower with cash and futures prices both losing $0.04 to close at $3.79 and $3.73 per bushel, respectively. Net sales totaled 1,095,300 metric tons (MT) for 2015/2016 and were up noticeably from the previous week and 11 percent from the prior four-week average. Increases were reported for Mexico, Colombia and South Korea. Exports totaled 549,800 MT and were up 47 percent from the previous week and 41 percent from the prior four-week average. The primary destinations were Mexico, Japan and Colombia. Grain Sorghum cash prices lost $0.08 to close at $5.80 per cwt. Net sales of Sorghum totaled 103,600 MT for 2015/2016 and resulted in increases for China and the Republic of South Africa. Exports of 283,100 MT were up 64 percent from the previous week and 46 percent from prior four-week average. The destinations were China, Mexico and the Republic of South Africa.

Wheat prices were lower with cash prices losing $0.07 to close at $3.93 per bushel; futures prices lost $0.08 to close at $4.68 per bushel. Net sales totaled 225,100 MT for delivery in marketing year 2015/2016 and were down 43 percent from the previous week and 45 percent from the prior four-week average. Increases were reported for Japan, Nigeria and Taiwan. Exports totaled 215,000 MT and were down 46 percent from the previous week and 31 percent from the prior four-week average. The primary destinations were Taiwan, Mexico and Ecuador.

Stock markets were lower today, as the markets continued to follow the steep declines in U.S. Crude oil, reaching their biggest weekly decline in almost a month. Crude oil prices were lower, losing $0.40 closing at $35.62 per barrel.

Daily Market Summary Data 12/11/15

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