Texas Daily Ag Market News Summary 02/12/16

Posted 8 years 289 days ago by

Feeder cattle auctions reported prices steady to $6 lower; Futures higher.

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

Cotton futures higher.

Grains and soybeans lower.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 lower. Texas Weekly Direct reported prices $1 to $6 lower. Feeder cattle futures were $0.18 lower, closing at $150.07 per hundredweight (cwt). The Texas fed cattle cash trade was active today closing at $133.00 per cwt. Whole sale boxed beef values were lower with choice grade losing $0.94 to close at $216.08 per cwt; select grade dropped $1.74 to close at $212.53 per cwt. Fed cattle futures were $0.17 lower, closing at $129.95 per cwt. Estimated cattle harvest for the week totaled 535,000 head up 36,000 from last week and 1,000 from last year.

Cotton cash prices were steady remaining at 57.37 cents per pound; March futures gained 0.48 cents to close at 58.90 cents per pound. Net upland sales totaled 227,700 RB for 2015/2016 and were down 10 percent from the previous week, but up 22 percent from the prior 4-week average. Increases were reported for Turkey, Colombia and Vietnam. Exports totaled 180,500 RB and were down 23 percent from the previous week, but up 19 percent from the prior 4-week average. The primary destinations were Vietnam, Turkey and Indonesia.

Corn prices were lower with cash prices losing $0.02 to close at $3.64; March futures dropped $0.01 at $3.59 per bushel. Net sales totaled 405,000 MT for 2015/2016 were and down 64 percent from the previous week and 57 percent from the prior 4-week average. Increases were reported for Japan, Colombia and Taiwan. Exports totaled 528,700 MT and were down 20 percent from the previous week and 16 percent from the prior 4-week average. The primary destinations were Mexico, Colombia and Japan. Grain Sorghum cash prices were lower losing $0.07 to close at $5.47 per cwt.

Wheat prices were steady with cash prices remaining at $3.59 per bushel; March futures prices were steady as well remaining at $4.44 per bushel. Net sales totaled 263,300 MT for delivery in marketing year 2015/2016 and were up noticeably from the previous week and 6 percent from the prior 4-week average. Increases were reported for Mexico, Indonesia and Japan. Exports totaled 376,500 MT were up 64 percent from the previous week and 11 percent from the prior 4-week average. The primary destinations were Japan, Mexico and Taiwan.

Milk prices were lower with February Class III Milk futures losing $0.01 to close at $13.87 per cwt.

Stock markets were higher today, as commodities and oil prices made gains. Crude oil prices were higher gaining $3.23 to close at $29.44 per barrel.

Daily Market Summary Data 02/12/16

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