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Oct
19
2015
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Posted 5 years 267 days ago ago by Texas Department of Agriculture
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Feeder
cattle auction quoted mixed prices of $2 to $10 higher; futures higher.
Fed
cattle cash trade inactive; formula trades lower; futures higher; beef prices higher.
Cotton
lower.
Grains
and soybeans lower.
Crude
oil lower; natural gas higher.
Stock
markets higher.
Texas
feeder cattle auctions quoted prices of $2 to $10 higher. Feeder cattle futures
were $1.20 higher, closing at $195.00 per hundredweight (cwt). The Texas fed
cattle cash trade was inactive yesterday. Wholesale boxed beef values were higher,
with Choice grade gaining $1.95 and Select grade gaining $1.37 settling at $213.64
and $207.73 per cwt, respectively. Estimated cattle harvest for the week
totaled 112,000 head, on par with last week’s total and down 2,000 from a year
ago. Year-to-date harvest is down 1.7%. Fed cattle futures were $2.32 higher,
closing at $138.27 per cwt.
Cotton
prices were lower with cash prices losing 0.50 cents, closing at 61.12 cents
per pound. Futures prices lost 0.61 cents settling 63.24 cents per pound.
Corn
and grain sorghum prices were lower, with corn cash and futures prices both losing
$0.05 settling at $3.82 and $3.73 per bushel, respectively. Grain Sorghum cash
prices lost $0.07, settling at $5.85 per cwt.
Wheat
prices were lower with cash prices losing $0.11 and futures prices losing $0.12
settling at $3.90 and $4.72 per bushel, respectively.
Stock
markets closed slightly higher yesterday, gains were capped by a slump in
energy shares. Crude oil prices closed $1.37 lower yesterday, settling at $45.89
per barrel.
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From Agri-Pulse:
WASHINGTON,
Oct. 18, 2015 - The House begins moving a long-term highway bill this week even
as Republicans try to find a new speaker to replace John Boehner.
The
House Transportation and Infrastructure Committee has scheduled its markup of a
surface transportation bill on Thursday. Authorization for federal highway
funding is set to expire Oct. 29, although that will almost certainly be
extended to give the House and Senate time to negotiate a final bill.
Agriculture
interests have been lobbying lawmakers to use the legislation to ease truck
weight limits.
Meanwhile,
House Republicans are waiting for a final decision from House Ways and Means
Chairman Paul Ryan on whether he will seek the speakership. CBS News reported
Sunday, citing Ryan confidants, that he is open to seeking the speakership but
won't negotiate terms with the conservative House Freedom Caucus.
If
Ryan ultimately declines, the race appears wide open. House Agriculture
Chairman Mike Conaway of Texas is among those considering a run, and Kansas
Rep. Mike Pompeo has also put his name into consideration.
The
House GOP turmoil comes as Congress faces looming fights over the debt limit
and the fiscal 2016 budget as well as highway funding.
Treasury
Secretary Jacob Lew warned lawmakers last week that the debt limit would be
reached Nov. 3, leaving the government without cash to pay its bills. The House
will debate a Republican bill (HR 692) this week that would ensure payments on
the national debt and the Social Security trust fund when the federal debt
limit is reached. But Democrats oppose the measure, leaving it with little
future beyond the House.
Biotech,
foreign subsidies focus of Ag hearings
On
Wednesday, the Senate Agriculture Committee will hold a hearing on
biotechnology to try to build the case for legislation that would block states
from mandating the labeling of foods with genetically engineered ingredients.
The
committee chairman, Pat Roberts of Kansas, said making the case that GMOs are
safe “would naturally lead” to addressing state labeling laws. The first such
law is set to take effect next summer in Vermont.
The
House Agriculture Committee, meanwhile, holds a hearing Wednesday on foreign
agriculture subsidies. The hearing will focus in particular on how China's
agricultural policy has been distorting the cotton market to the detriment of U.S.
producers. The meeting follows a June hearing where committee members said it
was time for the United States to consider challenging farm policies such as
China's and Brazil's at the World Trade Organization.
China
accounted for 34 percent of the $492 billion in global agricultural subsidies
in 2012, according to the Organization for Economic Cooperation and
Development, compared to 7 percent for the United States.
Boosting
truck limits likely a heavy lift for lawmakers
Rep.
Reid Ribble, R-Wis., introduced legislation last month that would allow states
to decide whether to allow trucks of up to 91,000 pounds, up from the current
maximum of 80,000. The bigger trucks would have to have six axles, instead of
just five.
The
change won't be included in the draft bill that the committee will consider on
Thursday, but Ribble will likely offer it as an amendment during the markup, an
aide said.
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The
Transportation Department recommended against any changes to truck limits,
citing inadequate study data. But an Informa Economics study for the Soy
Transportation Coalition found that six-axle, 97,000-pound trucks would be just
as safe as five-axle, 80,000-pound semis. In addition, it found that the larger
trucks would cut the number of truck trips needed to haul soybeans and soy
products by 1.2 million a year, saving 5.5 million gallons of fuel.
A
Senate-passed limit doesn't include any increase in truck limits because of
strong opposition from the ranking Democrat on the Senate Environment and
Public Works Committee, Barba Boxer of California.
The
ultimate future of the highway bill hangs on whether lawmakers can agree on how
to pay for it. Mike Steenhoek, executive director of the Soy Transportation
Coalition, worries that Congress will be unable to agree on a long-term bill
that is fully funded.
“With
the lack of overall leadership in the House and the continued lack of guidance
regarding funding from the House Ways and Means Committee and the Senate
Finance Committee, it's hard to imagine a multiyear bill getting passed in the
near future that will not require adjustments down the road,,” he said.
Here's
a list of agriculture- or rural-related events scheduled for this week in
Washington and elsewhere:
Monday,
Oct. 19
James
Beard Foundation Food Conference: Rethinking the Future of Food, New York.
The
11th round of negotiations on the Transatlantic Trade and Investment
Partnership with the European Union opens in Miami. Through Oct. 23.
1
p.m. - Codex Committee on Food Hygiene meeting, USDA Whitten Building.
4
p.m. - USDA releases weekly Crop Progress report.
Tuesday,
Oct. 20
All
day - FDA public meeting on Food Safety Modernization Act preventive control
rules, Chicago.
All
day - James Beard Foundation conference. Agriculture Secretary Tom Vilsack
speaks on “The Future of the Farm.”
10
a.m. - Senate Energy and Natural Resources hearing on nominations for Energy
and Interior departments, 366 Dirksen.
2:45
p.m. - Senate Foreign Relations Committee hearing on the economic and
environmental impacts of the Paris climate negotiations, 419 Dirksen.
Wednesday,
Oct. 21
9:30
a.m. - Senate Homeland Security and Government Affairs Committee hearing on
fiscal 2015 apprehensions of illegal immigrants from Central America, 342
Dirksen.
10
a.m. - House Agriculture Committee hearing on foreign farm subsidies, 1300
Longworth.
10
a.m. - Senate Agriculture Committee hearing on biotechnology, 106 Dirksen.
10
a.m. - Senate Agriculture Appropriations Subcommittee hearing on rural
development, 192 Dirksen.
10
a.m. - Senate Environment and Public Works subcommittee hearing on EPA's regulatory
impact analyses, 406 Dirksen.
Thursday,
Oct. 22
All
day - EPA's agricultural advisory committee meeting, Bloomfield, Colo.
8:30
a.m. - USDA releases Weekly Export Sales.
10
a.m. - House Energy and Commerce subcommittee hearing on the Senate-passed
Grassroots Rural and Small Community Water Systems Assistance Act (S 611), 2123
Rayburn.
10
a.m. - House Science, Space and Technology Committee hearing on EPA's 2015
ozone standard, 2318 Rayburn.
10
a.m. - House Transportation and Infrastructure Committee markup of surface
transportation bill, 2167 Rayburn.
10
a.m. - EPA Administrator Gina McCarthy speaks at the Center for American
Progress on reducing methane emissions from the oil and gas sector, 1333 H St.
NW.
2
p.m. - House Natural Resources subcommittee hearing on bill to transfer
management of red snapper fisheries from the federal government to the states,
1324 Longworth.
Friday,
Oct. 23
9
a.m. - USDA releases monthly Food Price Outlook.