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Sep
06
2016
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Posted 7 years 84 days ago ago by
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Feeder
cattle auctions reported prices steady to $5 lower; Futures lower.
Fed
cattle cash trade inactive; Formula trades inactive; Futures lower; Beef prices
lower.
Cotton
higher.
Grains
and Soybeans mixed.
Milk
futures higher.
Crude
oil higher; Natural gas lower.
Stock
markets higher.
Texas feeder cattle auctions reported prices
steady to $5 lower. September Feeder cattle futures were $4.37 lower,
closing at $130.50 per hundredweight (cwt). The Texas fed cattle cash
trade was inactive today. Whole sale boxed beef values were lower with
choice grade losing $0.81 to close at $190.28 per cwt and select grade losing
$0.54 to close at $186.53 per cwt. Fed cattle futures were $1.40 lower,
closing at $100.20 per cwt.
Cotton prices were higher with cash prices
gaining 1.50 cents to close at 67.12 cents per pound and October futures
gaining 1.55 cents to close at 69.06 cents per pound.
Corn prices were mixed with cash prices
gaining $0.12 to close at $3.23 per bushel and September futures remaining at
$3.17 per bushel. Grain Sorghum cash prices were higher, gaining $0.18 to close at
$4.73 per cwt.
Wheat prices were mixed with cash prices
gaining $0.06 to close at $3.00 per bushel and September futures losing $0.03
to close at $3.84 per bushel.
Milk prices were higher
with September Class III Milk futures gaining $0.12 to close at $16.99 per cwt.
Stock
Markets
were higher today, led by gains by energy shares and oil prices. Crude oil
prices were higher, with October crude oil futures gaining $0.39 to close at
$44.83 per barrel.
Daily Market Summary Data 09/06/16
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From
Weekly Recap:
AUSTIN – (September 6,
2016) For the week ending September 2, 2016, Texas feeder cattle auctions
reported prices steady to $12 lower. Texas Weekly Direct reported prices $2 to
$7 lower. Wholesale Beef values were lower, with Choice Grade losing $7.33 to
close at $191.09 per hundredweight (cwt) and Select Grade losing $5.27 to close
at $187.07 per cwt. For the time period of August 22-28 the USDA NASS Field
Office reported livestock were in good condition throughout most of the state,
and supplemental feeding continued in areas of the Lower Valley. Forage
production progressed in areas of the Blacklands and stock tanks in areas of
the Edwards Plateau were still full. Range and pasture improved in the Southern
Low Plains, South Texas, and the Edwards Plateau due to recent rainfall. For
the time period of August 19-25, exporters reported net sales of 11,400 metric
tons (MT) for 2016, which were up 42 percent from the previous week, but down
18 percent from the prior four-week average. Increases were reported for South Korea,
Mexico and Hong Kong. Exports totaled 13,800 MT, which were down one percent
from the previous week and four percent from the prior four-week average. The
primary destinations were South Korea, Japan and Hong Kong.
Cotton
prices were higher at the end of last week, with cash prices gaining 1.5 cents
to close at 65.62 cents per pound and October futures prices gaining 0.82 cents
to close at 67.51 cents per pound. The USDA NASS Field Office reported that in
the High Plains, dry land cotton conditions were aided by rainfall and cooler
temperatures. Cotton harvest was slowed in areas of the Coastal Bend and the
Upper Coast. Cotton harvest continued in the southern part of the state. Net
sales totaled 309,200 round bales (RB) for 2016/2017 and were reported for
Vietnam, Pakistan and China. Exports totaled 201,100 RB and were reported to
Vietnam, Mexico and China.
Wheat
prices were higher at the end of last week, with September futures gaining
$0.13 to close at $3.80 per bushel. The USDA NASS Field Office reported that
field preparations for small grains were underway in many areas following
much-needed rain showers. Net sales totaled 279,400 MT for 2016/2017, which
were down 26 percent from the previous week and 38 percent from the prior
four-week average. Increases were reported for Brazil, the Philippines and
South Korea. Exports totaled 594,100 MT, which were up 5 percent from the
previous week and from the prior four-week average. The primary destinations
were Brazil, the Philippines and China.
Corn prices
were higher at the end of last week with September futures gaining $0.05 to
close at $3.17 per bushel. The USDA NASS Field Office reported that corn was
tasseling in areas of the Northern High Plains and harvest neared completion in
the Blacklands. Recent rainfall delayed corn and sorghum harvest in areas of
South Central Texas and the Blacklands. In the Southern Low Plains, sorghum
harvest continued. Net sales totaled 214,100 MT for 2015/2016, which were up
noticeably from the previous week, but down 27 percent from the prior four-week
average. Increases were reported for Japan, Colombia and Algeria. Exports
totaled 1,464,500 MT, which were up 40 percent from the previous week and 22
percent from the prior four-week average. The primary destinations were Mexico,
Japan and Taiwan.
Milk
prices were lower at the close of last week, with September Class III milk
futures losing $0.05 to close at $16.87 per cwt
This
week’s U.S. Drought
Monitor for Texas showed a slight improvement in drought conditions for
the state, with 10.14 percent of Texas still in some stage of drought
intensity, down 4.79 percentage points from last week. Additionally, 0.16
percent of the state remains in severe, extreme, or exceptional drought. On the
national
level, drought conditions worsened slightly, with 45.08 percent of the
U.S. experiencing abnormal dryness or some degree of drought, down 0.29
percentage points from last week