Texas Daily Ag Market News Summary 06/30/17

Posted 7 years 150 days ago by

Feeder cattle auctions reported higher prices; Futures higher.

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

Cotton prices higher.

Grains and soybeans higher.

Milk futures higher.

Crude oil higher; Natural gas lower.

Stock markets higher.

Texas feeder cattle auctions reported prices steady to $5 higher. Texas Weekly Direct reported prices steady to $6 higher. August Feeder cattle futures were 75 cents higher, closing at $147.92 per hundredweight (cwt). The Texas fed cattle cash trade was inactive today. August Fed cattle futures were 20 cents lower, closing at $116.30 per cwt. Wholesale boxed beef values were lower, with Choice grade losing $1.82 to close at $224.73 per cwt and Select grade losing $1.74 to close at $208.42 per cwt. Estimated cattle harvest for the week totaled 586,000 up 3,000 from last week’s total and 20,000 from a year ago. Year-to-date harvest is up 3.6%. For the time period of June 16-22 U.S. exporters reported net sales of 11,200 metric tons (MT) and were down 33 percent from the previous week and 12 percent from the prior four-week average. Increases were reported for Japan, Taiwan and South Korea. Exports totaled 14,900 MT and were up 9 percent from the previous week and 8 percent from the prior four-week average. The primary destinations were Japan, South Korea and Mexico.

Cotton prices were higher with cash prices gaining 1.25 cents to close at 69.50 cents per pound and July futures gaining 1.31 cents to close at 75.31 cents per pound. Net upland sales totaled 261,300 running bales (RB) and were up 56 percent from the previous week and up noticeably from the prior four-week average. Increases were reported for Vietnam, China and India. Exports totaled 249,600 RB and were down 4 percent from the previous week and 15 percent from the prior four-week average. The primary destinations were Turkey, Vietnam and Indonesia.

Corn prices were higher with cash prices gaining 16 cents to close at $3.70 per bushel and July futures gaining 11 cents to close at $3.71 per bushel. Net sales totaled 316,200 MT and were down 40 percent from the previous week and 33 percent from the prior four-week average. Increases were reported for Mexico, Japan and China. Exports totaled 1,020,800 MT and were down 16 percent from the previous week and 14 percent from the prior four-week average. The primary destinations were Mexico, Japan and South Korea.

Grain Sorghum cash prices were 19 cents higher, closing at $5.58 per cwt. Net sales totaled 2,000 MT and were reported for China. Exports totaled 74,800 MT and were up 17 percent from the previous week and 9 percent from the prior four-week average. The destinations were China, Japan and Mexico.

Wheat prices were higher with cash prices gaining 31 cents to close at $4.61 per bushel and July futures gaining 30 cents to close $5.11 per bushel. Net sales totaled 492,100 MT and were reported primarily for Mexico, Indonesia and the Philippines. Exports totaled 750,800 MT and were reported to Indonesia, Mexico and Japan.

Milk prices were higher with July Class III gaining 2 cents to close at $15.72 per cwt.

Stock markets were higher today, putting U.S. indexes in a good position to end the first half of the year in strong positive territory. Major U.S. indexes rose for the day after Technology shares reversed recent declines and edged higher. August Crude oil futures were $1.11 higher, closing at $46.04 per barrel. Crude oil prices continued one of its longest winning steaks in years after signs came out showing that the U.S. is starting to decrease crude oil production.

Daily Market News Summary Data 06/30/17

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