Texas Daily Ag Market News Summary 12/18/15

Posted 8 years 346 days ago by

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

Fed cattle cash trade inactive; futures higher; beef prices mixed.

Cotton higher.

Grains and soybeans mixed.

Crude oil lower; natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $3 lower, with one instance of $14 lower. Feeder cattle futures were $4.50 higher, closing at $148.75 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were mixed with choice grade losing $1.62 to close at $194.14 per cwt; select grade gained $0.81 to close at $186.35 per cwt. Fed cattle futures were $3.00 higher, closing at $120.15 per cwt. Estimated cattle harvest for the week totaled 562,000 head, up 2,000 from last week and 17,000 from last year’s total. Beef net sales totaled 6,000 metric tons (MT) for 2015, and were down 20 percent from the previous week and 31 percent from the prior four-week average. Increases were reported for Japan, Mexico and Canada. Exports totaled 9,000 MT and were down 30 percent from the previous week and 26 percent from the prior four-week average. The primary destinations were Hong Kong, Japan and South Korea.

Cotton prices were higher with cash prices gaining 0.50 cents to close at 62.12 cents per pound; March futures prices were up 0.70 cents to close at 63.69 cents per pound. Net upland sales totaled 99,500 round bales (RB) for 2015/2016 and were up 27 percent from the previous week, but down 52 percent from the prior four-week average. Increases were reported for Vietnam, China and Turkey. Exports totaled 91,900 RB and were down 18 percent from the previous week, but up 9 percent from the prior four-week average. The primary destinations were Mexico, Turkey and Vietnam.

Corn prices were higher with cash prices gaining $0.01 to close at $3.79 per bushel; March corn futures prices were up $0.01 to close at $3.75 per bushel. Net sales totaled 579,400 MT for 2015/2016 and were down 44 percent from the previous week and 47 percent from the prior four-week average. Increases were reported for Colombia, Japan and South Korea. Exports totaled 495,000 MT and were up two percent from the previous week and 11 percent from the prior four-week average. The primary destinations were Mexico, Japan and Colombia. Grain Sorghum cash prices were down $0.04 to close at $5.79 per cwt.

Wheat prices were mixed with cash prices losing $0.04 to close at $3.92 per bushel; March futures prices were up $0.01 to close at $4.82 per bushel. Net sales totaled 320,200 MT for delivery in marketing year 2015/2016 and were up 42 percent from the previous week, but down 22 percent from the prior four-week average. Increases were reported for Taiwan, Japan and Nigeria. Exports totaled 332,300 MT and were up 55 percent from the previous week and nine percent from the prior four-week average. The primary destinations were Nigeria, Brazil and Israel.

Stock markets were lower today, as momentum from the Federal Reserve’s announcement about interest rates subsided. Crude oil prices were lower, losing $0.72 to close at $34.23 per barrel.

Daily Market Summary Data 12/18/15

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