Texas Daily Ag Market News Summary 07/21/17

Posted 7 years 129 days ago by

Feeder cattle auctions higher; Futures higher.

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

Cotton prices lower.

Grains and soybeans lower.

Milk futures lower.

Crude oil lower; Natural gas lower.

Stock markets lower.

Texas feeder cattle auctions reported prices steady to $4 higher. Texas Weekly Direct reported prices $2 to $4 higher. August Feeder cattle futures were 68 cents higher, closing at $152.95 per hundredweight (cwt). The Texas fed cattle cash trade was active today, closing at $120.00 per cwt. August Fed cattle futures were 55 cents higher, closing at $116.42 per cwt. Wholesale boxed beef values were lower, with Choice grade losing 74 cents to close at $206.91 per cwt and Select grade losing 78 cents to close at $194.80 per cwt. Estimated cattle harvest for the week totaled 577,000 down 13,000 from last week’s total and up 16,000 from a year ago. Year-to-date harvest is up 2.9%. For the time period of July 7-13 exporters reported net sales totaling 12,400 metric tons (MT) which were down 1 percent from the previous week and 14 percent from the prior four-week average. Increases were reported primarily for Japan, Mexico and South Korea. Exports totaled 14,800 MT and were up 26 percent from the previous week and 7 percent from the prior four-week average. The primary destinations were Japan, South Korea and Mexico.

Cotton prices were lower with cash prices losing 0.25 cents to close at 67.00 cents per pound and October futures gaining 0.41 cents to close at 69.14 cents per pound. Net upland sales totaled 27,200 running bales (RB) and up noticeably from the previous week, but down 83 percent from the prior four-week average. Increases were reported for Vietnam, Turkey and China. Exports totaled 280,500 RB and were up 44 percent from the previous week and 11 percent from the prior four-week average. The primary destinations were Vietnam, Turkey and Mexico.

Corn prices were lower with cash prices losing 12 cents to close at $3.79 per bushel and September futures losing 11 cents to close at $3.80 per bushel. Net sales totaled 466,500 MT and were up noticeably from the previous week and 63 percent from the prior four-week average. Increases were reported for Japan, Mexico and Peru. Exports totaled 1,041,900 MT and were up 18 percent from the previous week, but down 1 percent from the prior four-week average. The primary destinations were Mexico, Japan and Peru.

Grain Sorghum cash prices were 20 cents lower, closing at $5.70 per bushel. Net sales totaled 66,000 MT and were reported for unknown destinations. Exports totaled 59,200 MT and were down 43 percent from the previous week and 8 percent from the prior four-week average. The destinations were China and Mexico.

Wheat prices were lower with cash prices losing 7 cents to close at $4.30 per bushel and September futures losing 8 cents to close at $4.96 per bushel. Net sales totaled 669,500 MT and were up 87 percent from the previous week and 52 percent from the prior four-week average. Increases were for the Philippines, South Korea and Mexico.

Milk prices were lower with July Class III losing 20 cents to close at $16.10 per cwt.

Stock markets were lower today, but ended the week in positive territory, as investors continue to read through corporate earnings reports released this week. September Crude oil futures were $1.15 lower, closing at $45.77 per barrel. Crude oil prices fell despite the number of active oil rigs in Texas dropping.

Daily Market News Summary Data 07/21/17

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