2017

Posted 7 years 220 days ago by

Feeder cattle auction reported higher prices; Futures higher.

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

Cotton futures lower.

Grains and soybeans uneven.

Milk futures higher.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices $1 to $5 higher. Texas Weekly Direct reported prices $1 to $9 higher. April Feeder cattle futures were 65 cents higher to close at $138.55 per hundredweight (cwt). The Texas fed cattle cash was active today, closing at $132.00 per cwt. April Fed cattle futures were 18 cents higher, closing at $129.80 per cwt. Wholesale boxed beef values were higher, with Choice grade gaining $1.44 to close at $217.16 per cwt and Select grade gaining 32 cents to close at $203.89 per cwt. Estimated cattle harvest for the week totaled 559,000 down 9,000 from last week’s total and up 6,000 from a year ago. Year-to-date harvest is up 1.1%. Net sales totaled 19,700 metric tons (MT) reported for 2017 and were up 26 percent from the previous week and 30 percent from the prior four-week average. Increases were reported for South Korea, Japan and Hong Kong. Exports totaled 13,700 MT and were down 2 percent from the previous week, but up 1 percent from the prior four-week average. The primary destinations were Japan, South Korea and Hong Kong.

Cotton prices were uneven with cash prices remaining at 77.25 cents per pound and May futures losing 1.08 cents to close at 78.99 cents per pound. Net upland sales totaled 226,300 running bales (RB) for 2016-2017 and were down 26 percent from the previous week and 30 percent from the prior four-week average. Increases were reported for China, India and Turkey. Exports totaled 358,700 RB and were down 18 percent from the previous week and 14 percent from the prior four-week average. The primary destinations were Vietnam, China and Turkey.

Corn prices were lower with cash and May futures both losing a penny to close at $3.51 per bushel and $3.57 per bushel, respectively. Net sales totaled 756,400 MT and were up 3 percent from the previous week, but down 23 percent from the prior four-week average. Increases were reported for Japan, South Korea and Peru. Exports totaled 1,408,300 MT and were up 31 percent from the previous week and 3 percent from the prior four-week average. The primary destinations were Japan, Mexico and Peru .Grain Sorghum cash prices were steady to remain at $5.26 per cwt.

Wheat prices were higher with cash prices gaining 3 cents to close at $3.25 per bushel and May futures gaining 2 cents to close at $4.05 per bushel. Net sales totaled 414,000 MT and were down 2 percent from the previous week and 12 percent from the prior four-week average. Increases were reported for Indonesia, Japan and Mexico.

Milk prices were higher with April Class III milk futures gaining 2 cents to close at $15.20 per cwt.

Stock markets closed lower for the day, but ended the week with gains. Today’s losses came as crude oil and energy prices continued to extend losses. May Crude oil futures were 65 cents lower, closing at $49.62 per barrel. Crude oil prices ended the biggest week of losses in the red again as investors and traders are starting to rethink the power of OPEC and other major oil exporters to be able to ease the global over supply of crude oil that has been plaguing the word lately.

Daily Market News Summary Data 04/21/17

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