Dec
19
2016
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Posted 6 years 161 days ago ago by
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Feeder cattle auction reported
steady prices; Futures higher.
Fed cattle cash trade active;
Formula trades higher; Futures lower; Beef prices higher.
Cotton prices lower.
Grains and soybeans lower.
Milk futures higher.
Crude oil higher; Natural gas lower.
Stock markets higher.
Texas feeder cattle
auctions reported steady prices. January Feeder
cattle futures picked up 97 cents to remain at $130.87 per hundredweight
(cwt). The Texas fed cattle cash
trade was active today, closing at $110.00 per cwt. December Fed cattle futures were 37 cents lower,
closing at $111.95 per cwt. Wholesale
boxed beef values were higher, with Choice grade gaining 76 cents to close
at $195.39 per cwt and Select grade gaining $1.96 to close at $183.05 per cwt. Estimated cattle harvest for the week
totaled 113,000 up 1,000 from last week’s and last year’s total. Year-to-date
harvest is up 0.8%.
Cotton prices were
lower with cash prices losing 1.50 cents to close at 68.75 cents per pound and
March futures losing 1.83 cents to close at 69.57 cents per pound.
Corn prices were
lower with cash and March futures both losing 3 cents to close at $3.42 per
bushel and $3.53 per bushel, respectively. Grain
Sorghum cash prices were down 6 cents, closing at $5.23 per cwt.
Wheat prices were
uneven with cash prices remaining at $3.04 per bushel and March futures losing
a penny to close at $4.14 per bushel.
Milk prices were
higher with December Class III futures gaining 2 cents to close at $17.34 per
cwt.
Stock markets were
higher today, as investors continue to bet that the Trump administration will
bring higher growth rates in the U.S economy. January Crude oil futures picked up 22 cents, to close at $52.12 per
barrel.
Daily Market News Summary Data 12/19/16
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From
Weekly Recap:
AUSTIN – (Dec. 19, 2016)
For the week ending Dec. 16, 2016, Texas feeder cattle auctions reported prices
steady to $10 higher, with instances of $5 to $10 lower. Texas Weekly Direct
reported prices steady to $3 higher. Wholesale Beef values were higher, with Choice
Grade gaining $2.90 to close at $194.63 per hundredweight (cwt) and Select
Grade gaining $5.75 to close at $181.09 per cwt. For the time period of Dec.
2-8, exporters reported net sales of beef totaling 18,400 metric tons (MT) for
2017, and were primarily for South Korea, Japan and Hong Kong. Exports totaled
16,300 MT, which were unchanged from the previous week but up eight percent
from the prior four-week average. The primary destinations were South
Korea, Japan and Hong Kong.
Cotton
prices were lower at the end of last week, with cash prices losing 0.50 cents
to close at 70.25 cents per pound and March futures losing 0.64 cents to close
at 71.40 cents per pound. Net upland sales totaled 311,700 round bales (RB) for
2016-2017, which were down 23 percent from the previous week but up 16 percent
from the prior four-week average. Increases were reported for Vietnam,
China and Pakistan. Exports totaled 218,400 round bales (RB), and were down
five percent from the previous week but up 48 percent from the prior
four-week average. The primary destinations were Vietnam, China and Mexico.
Wheat
prices were uneven at the end of last week, with cash prices losing a penny to
close at $3.04 per bushel and March futures holding steady to remain at $4.15
per bushel. Net sales totaled 531,300 MT for delivery in the 2016-2017
marketing year; sales were up six percent from the previous week but down seven
percent from the prior four-week average. Increases were reported for
Nigeria, Morocco and China. Exports totaled 422,000 MT, and were down 24
percent from the previous week but up seven percent from the prior four-week
average. The primary destinations were Nigeria, Morocco and
Thailand.
Corn
prices were lower at the end of last week, with cash prices losing a nickel to
close at $3.45 per bushel and March futures losing four cents to close at $3.56
per bushel. Net sales totaled 1,516,000 MT for 2016-2017, and were up one
percent from the previous week and eight percent from the prior four-week
average. Increases were for South Korea, Mexico and Japan. Exports totaled
835,700 MT, which were down 39 percent from the previous week but up two
percent from the prior four-week average. The primary destinations were
Mexico, Saudi Arabia and Japan.
Grain
sorghum cash prices were lower at the end of the week, with cash prices losing
nine cents to close at $5.29 per cwt. Net sales totaled 260,200 MT for
2016-2017; sales were up noticeably from the previous week and 24 percent from
the prior four-week average. Increases were reported for China and unknown
destinations. Exports totaled 111,400 MT, which were down 52 percent from
the previous week but up seven percent from the prior four-week
average. The destinations were China, Indonesia and Mexico.
Milk
prices were higher at the close of last week, with December Class III milk
futures gaining 15 cents to close at $17.32 per cwt.
This
week’s U.S. Drought
Monitor for Texas showed slight worsening in drought conditions for the
state, with 19.14 percent of Texas still in some stage of drought intensity, up
1.04 percentage points from last week. On the national
level, drought conditions improved slightly, with 54.22 percent of the U.S.
experiencing abnormal dryness or some degree of drought.