2017

Posted 7 years 234 days ago by

Feeder cattle auction reported lower prices; Futures higher.

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

Cotton prices lower.

Grains and soybeans mixed.

Milk futures lower.

Crude oil higher; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $1 lower. Texas Weekly Direct reported prices steady to $4 lower. April Feeder cattle futures were $1.80 higher, closing at $133.75 per hundredweight (cwt). The Texas fed cattle cash was active today, closing at $122.00 per cwt. April Fed cattle futures were $1.23 higher, closing at $120.05 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 68 cents to close at $207.22 per cwt and Select grade losing $2.79 to close at $197.49 per cwt. Estimated cattle harvest for the week totaled 547,000 down 19,000 from last week’s total and up 18,000 from a year ago. Year-to-date harvest is up 3.4%. For the time period of March 24-30, 2017 exporters reported net sales of 19,300 metric tons (MT), which were up 78 percent from the previous week and 32 percent from the prior four-week average. Increases were reported primarily for Japan, Mexico and Hong Kong. Exports totaled 12,900 MT and were down 11 percent from the previous week and 6 percent from the prior four-week average. The primary destinations were Japan, South Korea and Mexico.

Cotton prices were lower with cash prices losing 0.50 cents to close at 73.50 cents per pound and May futures losing 1.05 cents to close at 73.46 cents per pound. Net upland sales totaled 270,000 running bales (RB) and were down 31 percent from the previous week and 16 percent from the prior four-week average. Increases were reported primarily for Turkey, India and Vietnam. Exports totaled 447,300 RB and were up 14 percent from the previous week and 9 percent from the prior four-week average. The primary destinations were Vietnam, China and Pakistan.

Corn prices were mixed with cash prices remaining at $3.55 cents per bushel and May futures losing a penny to close at $3.60 per bushel. Net sales totaled 1,138,100 MT and were up 59 percent from the previous week and 13 percent from the prior four-week average. Increases were reported for Mexico, Colombia and Japan. Exports totaled 1,597,700 MT--a marketing-year high—and were up 14 percent from the previous week and 11 percent from the prior four-week average. The primary destinations were Colombia, Japan and Mexico.

Grain Sorghum cash prices were steady to remain at $5.31 per cwt. Net sales totaled 130,200 MT and were up noticeably from the previous week and 50 percent from the prior four-week average. Increases were reported for China, Mexico and Taiwan. Exports totaled 220,500 MT and were up noticeably from the previous week and from the prior four-week average. The destinations were China, Mexico and Taiwan.

Wheat prices were higher with cash and May futures both gaining 2 cents to close at $3.37 per bushel and $4.22 per bushel, respectively. Net sales totaled 568,400 MT and were up 23 percent from the previous week and 48 percent from the prior four-week average. Increases were reported for Taiwan, Algeria and South Korea. Exports totaled 564,900 MT and were up 14 percent from the previous week and 2 percent and from the prior four-week average. The destinations were primarily Mexico, Japan and Indonesia.

Milk prices were lower with April Class III milk futures losing 4 cents to close at $15.10 per cwt.

Stock markets closed slightly lower today, after the U.S’s bombing campaign on Syria sent oil prices up and caused investors to buy up shares in defense companies, gains were drowned out by a weak jobs report. May Crude oil futures were 54 cents higher, closing at $52.24 per barrel. Crude oil prices hit a one-months high after the bombing of Syria, investors are concerned that the conflict might spread to other major oil producing countries.

DailyMarket News Summary Data 04/07/17

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