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Jul
25
2016
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Posted 6 years 195 days ago ago by
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Feeder cattle auctions
reported prices steady to $4 lower; Futures higher.
Fed cattle cash trade inactive;
Formula trades lower; Futures higher; Beef prices lower.
Cotton lower.
Grains and soybeans mixed.
Milk futures higher.
Crude oil lower; Natural
gas lower.
Stock markets lower.
Texas feeder cattle auctions reported
prices steady to $4 lower. Feeder
cattle futures were $4.50 higher, closing at $141.70 per
hundredweight (cwt). The Texas fed
cattle cash trade was inactive today. Whole sale boxed beef
values were lower with choice grade losing $1.50, to close at $198.59 per cwt
and select grade losing $0.13 to close at $189.44 per cwt. Fed cattle futures
were $3.00 higher, closing at $112.95 per cwt. Estimated cattle harvest for the
week totaled 113,000 head up 3,000 from last week and 8,000 from last year’s
total.
Cotton prices were lower with cash prices losing 0.50 cents
to close at 69.37 cents per pound and October futures losing 0.40 cents to close at 72.12 cents
per pound.
Corn prices were mixed with cash prices losing $0.01 to
close at $3.28 per bushel and September corn futures remaining at $3.35 per
bushel. Grain Sorghum
cash prices were lower, losing $0.02 to close at $4.81 per cwt.
Wheat prices were higher with cash and September futures
prices both gaining $0.04 to close at $3.27 per bushel and $4.23 per bushel,
respectively.
Milk
prices were higher with July Class III Milk futures gaining $0.03 to close at $15.30
per cwt.
Stock markets were
lower today, as U.S. indexes were dragged down by falling oil prices. Crude oil prices were
lower, with September crude oil futures losing $1.06, to close at $43.13 per
barrel.
Daily
Market Summary Data 07/25/16
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From
Weekly Recap:
AUSTIN – (July 25, 2016) For the week ending July
22, 2016, Texas feeder cattle auctions reported prices $2 to $10 lower, with
instances of steady to $3 higher. Texas Weekly Direct reported prices steady to
$4 lower. Wholesale Beef values were lower, with Choice Grade losing $2.48 to
close at $200.09 per hundredweight (cwt) and Select Grade losing $1.54 to close
at $189.57 per cwt. For the time period of July 11-17, the USDA NASS Field Office
reported that cattle remained in good condition throughout the state, although
range and pasture conditions suffered due to lack of precipitation in areas
across Southern and Central Texas. Active wildfires were reported in areas of
the Northern Low Plains. For the time period of July 8-14, exporters reported
net sales of 14,400 metric tons (MT) for 2016, which were up 13 percent from
the previous week but down two percent from the prior four-week average.
Increases were reported for South Korea, Japan and Hong Kong. Exports totaled
14,600 MT, which were up 27 percent from the previous week and nine percent
from the prior four-week average. The primary destinations were Japan, South
Korea and Mexico.
Cotton
prices were lower at the end of last week, with cash prices losing 1.25 cents
to close at 69.87 cents per pound and October futures prices losing 1.11 cents
to close at 72.52 cents per pound. The USDA NASS
Field Office reported that irrigation of row crops remained active across much
of the state. Cotton continued to make progress, although some cotton producers
reported hail damage in areas of the Northern Low Plains. Net upland sales
totaled 72,100 round bales (RB) for 2015-2016, which were up 31 percent from
the previous week but down 41 percent from the prior four-week average.
Increases were reported for Vietnam, South Korea and India. Exports totaled
186,000 RB, which were up 25 percent from the previous week but down 13 percent
from the prior four-week average. The primary destinations were Vietnam, Mexico
and Indonesia.
Wheat
prices were mixed at the end of last week, with cash prices remaining at $3.23
per bushel and September wheat futures losing $0.01 to close at $4.19 per
bushel. The USDA NASS Field Office reported that the
Winter Wheat harvest is near completion in areas of the Cross Timbers. Net
sales totaled 478,000 MT for 2016-2017, which were up 50 percent from the
previous week but down 15 percent from the prior four-week average. Increases
were reported for Japan, China and Nigeria. Exports totaled 360,600 MT, which
were up six percent from the previous week but down 27 percent from the prior
four-week average. The primary destinations were China, the Dominican Republic
and Mexico.
Corn
prices were lower at the end of last week, with cash prices losing $0.21 to
close at $3.29 per bushel and September corn futures losing $0.22 to close at
$3.35 per bushel. Net sales totaled 345,100 MT for
2015-2016, which were down 48 percent from the previous week and 42 percent
from the prior four-week average. Increases were reported for Taiwan, Mexico
and South Korea. Exports totaled 1,240,900 MT, which were unchanged from the
previous week but down five percent from the prior four-week average. The
primary destinations were Japan, Mexico and Taiwan. Grain sorghum cash prices were down, losing $0.38 to close at $4.83 per
cwt. Sorghum and soybeans continued to develop, with some
reports of sugarcane aphids affecting some sorghum fields in areas of the
Southern Low Plains.
Milk
prices were lower at the close of last week, with July Class III milk futures
losing $0.05 to close at $15.27 per cwt
This week’s U.S. Drought Monitor for Texas showed worsening drought conditions for the state, with
13.12 percent of Texas still in some stage of drought intensity, up 7.09
percentage points from last week. Additionally, none of the state remains
in severe, extreme or exceptional drought. On the national level, drought conditions improved, with 55.46 percent of the
U.S. experiencing abnormal dryness or some degree of drought, down 3.72
percentage points from last week.