Texas Daily Ag Market News Summary 01/08/16

Posted 8 years 325 days ago by

Feeder cattle auctions prices $5 to $20 higher; Futures lower.

Fed cattle cash trade inactive; Futures lower; Beef prices higher.

Cotton futures lower.

Grains and soybeans higher.

Crude oil lower; Natural gas higher.

Stock markets lower.

Texas feeder cattle auctions reported priced $5 to $20 higher per cwt. Feeder cattle futures were $4.40 lower, closing at $159.42 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were higher with choice grade gaining $1.61 to close at $232.20 per cwt; select grade gained $3.09 to close at $226.98 per cwt. Fed cattle futures were $0.77 lower, closing at $132.75 per cwt. Estimated cattle harvest for the week totaled 527,000 head, up 131,000 from last week and on par with last year’s total.

Cotton prices were mixed with cash prices being steady remaining at 59.87 cents per pound; March futures prices were lower, dropping 0.03 cents, to close at 61.40 cents per pound. For the time period December 25-31, 2015 USDA reported Net upland sales totaled 82,800 round bales (RB) for 2015/2016 and were down 22 percent from the previous week and 18 percent from the prior four-week average. Increases were reported for China, Pakistan and Turkey. Exports totaled 10,500 RB and were up 33 percent from the previous week and 16 percent from the prior four-week average. The primary destinations were China, Turkey and India.

Corn prices were higher with cash and futures prices both gaining $0.04 to close at $3.61 per bushel and $3.57 per bushel, respectively. Grain sorghum cash prices were higher gaining $0.07 to close at $5.48 per cwt. Net sales totaled 252,900 metric tons (MT) for 2015/2016 and were down 64 percent from the previous week and 68 percent from the prior four-week average. Increases were reported for Mexico, Colombia and Peru. Exports totaled 357,800 MT and were down 36 percent from the previous week and 39 percent from the prior four-week average. The primary destinations were Mexico, Colombia and Peru.

Wheat prices were higher with cash and futures prices both gaining $0.10, to close at $3.83 and $4.73 per bushel, respectively. Net sales totaled 76,500 MT--a marketing-year low--for delivery in marketing year 2015/2016 and were reported for Japan, China and the Philippines. Exports totaled 274,500 MT and were up eight percent from the previous week, but down nine percent from the prior four-week average. The primary destinations were Japan, the Philippines and Nigeria.

Stock markets were lower today, as investors brace for even larger swings coming in the near future. Crude oil prices were lower, losing $0.11 to close at $33.16 per barrel.

Daily Market Summary Data 01/08/16

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