Texas Daily Ag Market News Summary 04/15/16

Posted 8 years 226 days ago by

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

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

Cotton futures lower.

Grains and Soybeans higher.

Milk futures higher.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $5 lower. Texas Weekly Direct reported prices of steady to $3 lower. Feeder cattle futures were $0.15 higher, closing at $155.07 per hundredweight (cwt). The Texas fed cattle cash trade was higher gaining $1.17 to close at $133.17 per cwt. Whole sale boxed beef values were higher with choice grade gaining $0.70, to close at $225.13 per cwt and select grade gaining $0.90 to close at $215.73 per cwt. Fed cattle futures were $0.28 lower, closing at $131.47 per cwt. Estimated cattle harvest for the week totaled 537,000 head up 8,000 from last week and 3,000 from last year’s total. For the time period of April 1-7, 2016 exporters reported net sales of 17,900 metric tons (MT) for 2016, which were up 58 percent from the previous week and 23 percent from the prior four-week average. Increases were reported for Japan, South Korea and Mexico. Exports totaled 11,800 MT, which were up two percent from the previous week and six percent from the prior four-week average. The primary destinations were Japan, South Korea and Mexico.

Cotton prices were mixed with cash prices remaining at 56.12 cents per pound and May futures losing 0.61 cents to close at 60.03 per pound. Net upland sales totaled 84,600 round bales (RB) for 2015/2016, which were down 60 percent from the previous week and 44 percent from the prior four-week average. Increases were reported for Turkey, China and Indonesia. Exports totaled 184,800 RB, which were down 44 percent from the previous week and 19 percent from the prior four-week average. The primary destinations were Vietnam, Turkey and Mexico.

Corn prices were higher with cash and futures prices both gaining $0.05 to close at $3.81 and $3.79 per bushel, respectively. Net sales totaled 1,135,800 MT for 2015/2016, which were up 20 percent from the previous week and 21 percent from the prior four-week average. Increases were reported for Japan, South Korea and Mexico. Exports totaled 1,008,400 MT, which were down 11 percent from the previous week and three percent from the prior four-week average. The primary destinations were Mexico, Japan and South Korea. Grain Sorghum cash prices were higher, gaining $0.08 to close at $5.51 per cwt.

Wheat prices were higher with cash and futures prices both gaining $0.03 to close at $3.83 and at $4.58 per bushel, respectively. Net sales of 124,700 MT for delivery in marketing year 2015/2016, which were up noticeably from the previous week, but down 41 percent from the prior four-week average. Increases reported for the Philippines, Mexico and Brazil.

Milk prices were higher with April Class III Milk futures gaining $0.01 to close at $13.72 per cwt.

Stock Markets were lower today, but remained in the positive territory for the week. Crude oil prices were lower, with May Crude oil futures losing $1.14 to close at $40.36 per barrel.

Daily Market Summary Data 04/15/16

If you are interested in receiving this daily report, please subscribe here.