Oct
02
2017
|
|
Posted 205 days ago ago by Texas Department of Agriculture
|
|
Feeder cattle auctions higher;
Futures lower.
Fed cattle cash trade inactive;
Formula trades lower; Futures lower; Beef prices uneven.
Cotton prices lower.
Grains and soybeans lower.
Milk futures higher.
Crude oil lower; Natural gas lower.
Stock markets higher.
Texas feeder cattle
auctions
reported prices steady to $8 higher.
October Feeder cattle futures were $1.87
lower, closing at $150.35 per hundredweight (cwt). The Texas fed cattle cash trade was inactive
today. October Fed cattle futures
were $1.28 lower, closing at $107.82 per cwt. Wholesale boxed beef values were uneven, with Choice grade gaining 60
cents to close at $197.22 per cwt and Select grade losing 22 cents to close at
$188.28 per cwt. Estimated cattle
harvest for the week totaled 110,000 down 8,000 from last week’s total and 3,000
from last year’s total. Year-to-date harvest is down 2.7%.
Cotton prices were lower
with cash prices losing 0.25 cents to close at 67.75 cents per pound and
October futures losing 0.88 cents to close at 68.20 cents per pound.
Corn prices were lower
with cash prices losing 4 cents to close at $3.54 per bushel and December
futures losing 3 cents to close at $3.52 per bushel. Grain Sorghum
cash prices were 5 cents lower, closing at $5.46 per cwt.
Wheat prices were lower
with cash prices losing 6 cents to close at $3.74 per bushel and December
futures losing 4 cents to close at $4.39 per bushel.
Milk prices were higher
with October Class III milk gaining 9 cents to close at $16.33 per cwt.
Stock markets were
higher today, as the Dow Jones logged its eighth consecutive quarter of gains,
behind solid earnings reports and strong economic data released over the summer.
November Crude oil futures were 11
cents higher, to close at $51.67 per barrel. Crude oil prices moved between
gains and losses today as investors weighed the potential ramifications from
the independence vote in Kurdish Region of Iraq against the increasing shale
production from the United States.
Daily
Market News Summary Data 10/02/17
If
you are interested in receiving this daily report, please subscribe here.
From
Weekly Recap:
AUSTIN – (Oct. 2, 2017)
For the week ending Sept. 29, 2017, Texas feeder cattle auctions were mixed,
reporting prices steady to $6 lower with instances of steady to $5 higher.
Texas Weekly Direct reported prices “unevenly steady.” Wholesale Beef values
were uneven at the end of the week, with Choice Grade gaining $2.66 to end at
$196.62 per hundredweight (cwt) and Select Grade losing $2.39 to end at $188.50
per cwt. For the time period of Sept. 18-24, the USDA NASS Field Office
reported that supplemental feeding of livestock continued in areas of the Cross
Timbers, Lower Valley and South Texas. Cattle and livestock condition remained
good to fair across the state. Pasture conditions declined in those areas that
did not receive rainfall last week. Army worm issues were reported in South
Central Texas. Feral hog activity was causing problems to producers in
Northeast Texas. For the time period of Sept. 15-21, exporters reported net
sales of beef totaling 16,000 metric tons (MT) and were up 28 percent from the
previous week and 10 percent from the prior four-week average. Increases
were reported primarily for South Korea, Hong Kong and Japan. Exports totaled
17,000 MT and were up 10 percent from the previous week and 1 percent from the
prior four-week average. The primary destinations were Japan, South Korea
and Mexico.
Cotton
prices were lower at the close of last week, with cash prices losing 0.75 cents
to end at 68.00 cents per pound and October futures losing 1.01 cents to end at
69.08 cents per bushel. The USDA NASS Field Office reported that cotton fields
in areas of the Southern High Plains and Low Plains were damaged by hail.
Producers in the Upper Coast were still trying to salvage any remaining cotton
not destroyed by Hurricane Harvey. Net sales totaled 194,200 running bales (RB)
for 2017-2018, which were down 12 percent from the previous week but up 23
percent from the prior four-week average. Increases were reported for Turkey,
Indonesia and China. Exports totaled 131,900 RB and were down 25 percent
from the previous week and 13 percent from the prior four-week
average. Exports were reported primarily to Vietnam, Bangladesh and
Mexico.
Wheat
prices were lower at the close of last week, with cash prices and December
futures both losing 11 cents to close at $3.90 per bushel and $4.43 per bushel,
respectively. The USDA NASS Field Office reported that Winter Wheat seeding had
been completed in some areas of the state. Meanwhile producers in other areas
delayed seeding operations waiting on better moisture conditions. Net sales
totaled 435,600 MT and were up 42 percent from the previous week and 14 percent
from the prior four-week average. Increases were primarily for the Philippines,
Dominican Republic and Japan.
Corn
prices were higher at the close of last week, with cash prices gaining 2 cents
to end at $3.58 per bushel and December corn futures gaining a penny to close
at $3.55 per bushel. The USDA NASS Field Office reported that corn harvest in
the Blacklands was slowed due to lack of elevator space. Net sales totaled
320,200 MT and were reported for Mexico, Peru and Colombia. Exports totaled
727,500 MT and were primarily to Mexico, Colombia and Peru.
Grain
sorghum cash prices were higher at the close of last week, gaining 4 cents to
end at $5.51 per bushel. The USDA NASS Field Office reported that sugarcane
aphids continued to be an issue for sorghum producers in the Southern High
Plains. Net sales totaled 62,000 MT, which resulted in increases for China and
Japan. Exports totaled 162,000 MT and were reported to China, Japan and
Mexico.
Milk
prices were lower at the close of last week, with October Class III milk
futures losing 9 cents to end the week at $16.24 per cwt.
This week’s U.S. Drought
Monitor for Texas showed improving drought conditions for the state, with
70.54 percent of Texas still in some stage of drought intensity, down 8.73
percentage points from last week. On the national
level, drought conditions worsened slightly, with 36.93 percent of the U.S.
experiencing abnormal dryness or some degree of drought.