Texas Daily Ag Market News Summary 01/15/16

Posted 8 years 317 days ago by

Feeder cattle auctions prices steady to $8 lower; Futures lower.

Fed cattle cash trade inactive; Formula trades lower; Futures lower; Beef prices lower.

Cotton futures lower.

Grains and soybeans higher.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $8 lower. Feeder cattle futures were $4.50 lower, closing at $154.30 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. Whole sale boxed beef values were lower with choice grade losing $2.69 to close at $232.47 per cwt; select grade lost $2.30 to close at $227.13 per cwt. Fed cattle futures were $3.00 lower, closing at $127.55 per cwt. Estimated cattle harvest for the week totaled 546,000 head, up 19,000 from last week and up 13,000 from last year’s total. For the period January 1-7, 2016 exporters reported net sales of 9,000 metric tons (MT) for 2016, and increases were reported for South Korea, Japan and Mexico. Exports totaled 9,200 MT and were primarily sent to Japan, South Korea and Hong Kong.

Cotton cash prices were steady remaining at 60.25 cents per pound; March futures were lower losing 0.49 cents to close at 61.41 cents per pound. Net upland sales totaled 171,000 round bales (RB) for 2015/2016 and were up noticeably from the previous and 68 percent from the prior four-week average. Increases were reported for Vietnam, Turkey and Indonesia. Exports totaled 5,300 RB and were down 49 percent from the previous week and 51 percent from the prior four-week average. The primary destinations were India, Japan and Peru.

Corn prices were higher with cash and futures prices both gaining $0.05 to close at $3.67 per bushel and $3.63 per bushel, respectively. Net sales totaled 669,200 MT for 2015/2016 and were up noticeably from the previous week and 14 percent from the prior four-week average. Increases were reported for Japan, Mexico and Colombia. Grain sorghum cash prices were higher gaining $0.09 to close at $5.59 per cwt.

Wheat prices were higher with cash and futures prices both gaining $0.05 to close at $3.84 and $4.74 per bushel, respectively. Net sales totaled 274,700 MT for delivery in 2015/2016 marketing year and were up noticeably from the previous week, but down three percent from the prior four-week average. Increases were reported for the Philippines, Italy and Ecuador. Exports totaled 552,200 MT and were up noticeably from the previous week and 74 percent from the prior four-week average. The primary destinations were the Philippines, Indonesia and Mexico.

Stock markets were lower today, as a drop in oil prices combined with renewed uncertainty about China’s economy have increased investor anxiety about global growth, dragging major indexes down for the day. Crude oil prices were lower losing, $1.78 to close at $29.42 per barrel.

Daily Market Summary Data 01/15/16

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