2017

Posted 7 years 236 days ago by

Feeder cattle auction reported steady prices; Futures lower.

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

Cotton prices higher.

Grains and soybeans higher.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported steady prices with instances of $2 to $5 lower. April Feeder cattle futures were 50 cents lower, closing at $130.52 per hundredweight (cwt). The Texas fed cattle cash was inactive today. April Fed cattle futures were 5 cents higher, closing at $118.27 per cwt. Wholesale boxed beef values were uneven, with Choice grade losing $1.98 to close at $209.71 per cwt and Select grade gaining 13 cents to close at $200.51 per cwt. Estimated cattle harvest for the week totaled 338,000 down 7,000 from last week’s total and up 8,000 from a year ago. Year-to-date harvest is up 2.5%.

Cotton prices were higher with cash prices gaining 0.25 cents to close at 74.00 cents per pound and May futures gaining 0.02 cents to close at 74.87 cents per pound.

Corn prices were higher with cash prices gaining a penny to close at $3.59 per bushel and May futures gaining 2 cents to close at $3.65 per bushel. Grain Sorghum cash prices were 2 cents higher, closing at $5.38 per cwt.

Wheat prices were higher with cash prices gaining 2 cents to close at $3.39 per bushel and May futures gaining 3 cents to close at $4.25 per bushel.

Milk prices were lower with April Class III milk futures losing 4 cents to close at $15.32 per cwt.

Stock markets closed lower today, reversing yesterday’s gains after the Federal Reserve released minutes from its March policy meeting. May Crude oil futures were 12 cents higher, closing at $51.15 per barrel. Crude oil prices were higher despite U.S. data showing that crude oil stockpiles continued to grow, reaching its seventh record level in the last eight weeks.

DailyMarket News Summary Data 04/05/17

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From Agri-Pulse:

WASHINGTON, March 31, 2017 – U.S. cotton farmers are planning to sow 12.2 million acres this year, up 21 percent from last year, driven by expectations of higher prices in 2017, USDA said today in a report based on a survey of growers. The estimate is also up from the 11.5 million planted acres the department predicted at its annual Outlook Forum in late February.

Projections for most other major crops, including corn, soybeans and wheat, hewed closely to the February estimates.

The estimate for corn plantings, for example, is 90 million acres, the same as predicted in February. That would be down 4 percent, or about 4 million acres, from last year. Compared with 2016, planted acreage for corn, the nation’s biggest crop, is expected to be down or unchanged in 38 of the 48 estimating states, according to the report, prepared by the National Agricultural Statistics Service.

Soybean planted area for 2017 is estimated at a record 89.5 million acres, up 7 percent from last year, and up 1.5 million acres from the February forecast. Compared with 2016, planted acreage intentions are up or unchanged in 27 of the 31 estimating States.

All wheat planted area is estimated at 46.1 million acres, down 8 percent from 2016, but close to the 46 million predicted at the Outlook Forum. If realized, this would be the lowest total planted area for the U.S. since records began in 1919.

NASS says the estimates in today’s report were based on survey conducted in the first two weeks of March that includes a sample of some 83,000 farm operators. Data from operators was collected by mail, internet, telephone, or personal interview to obtain information on crop acreage intentions for the 2017 crop year.