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Jan
11
2018

Texas Daily Ag Market News Summary

Posted 44 days ago ago by Doug Van Pelt

Feeder cattle auctions mixed; futures mixed.

Formula trades lower; Beef prices down.

Cotton prices up.

Milk futures up.

Crude oil up; Natural gas up.

Stock markets up.

 

 

 

Cattle:

Texas feeder cattle auctions reported mixed prices, from $5 lower to $9 higher. January Feeder cattle futures were down 55 cents, closing at $143.82 per hundredweight (cwt). The Texas fed cattle cash trade was not active today. February Live cattle futures were higher, gaining 20 cents to close at $117.07 per cwt. Wholesale boxed beef values were down, with Choice grade losing 99 cents to close at $209.07 per cwt and Select grade losing 28 cents to close at $202.95 per cwt. Estimated cattle harvest for the week totaled 472,000, up 132,000 from last week and 7,000 from last year’s total. Year-to-date harvest is up 1.5%. 

 

Cotton:

Cotton prices were up, closing at 78.75 cents per pound and March cotton futures gaining 3 cents to close at 82.65 cents per pound.

 

Corn and Soybeans:

March corn futures were steady, closing at $3.49 per bushel. January Soybeans futures were down 6 cents to close at $9.41 per bushel.

 

Wheat:

March wheat futures lost a penny, closing at $4.40 per bushel.

 

Milk:

Milk prices were up 3 cents, with January Class III milk futures closing at $13.81 per cwt.

 

Stock Markets and Crude Oil:

Stock markets were up, with all three major indexes showing gains. February Crude oil futures were up 23 cents to close at $63.80 per barrel.

 

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From Agri-Pulse:

 

Trump: ‘We are really working hard for the farmer’

 

President Donald Trump spoke with Agri-Pulse before his speech at the American Farm Bureau Federation's 99th annual convention in Nashville Monday, and we asked him questions that many farmers and ranchers have on their minds.

 

Trump sought to offer assurances on trade, the farm bill, crop insurance, and more in our interview.

Asked about the “take home” message he wanted farmers to have as a result of his speech, he said, “Keep your optimism up. We are really working hard for the farmer.”

 

Trump said, “farm prices have really been moving down rapidly over the last four years” and “we’d like to see prices go up so that you can do a bit better.”

To watch the full video, click here.

 

 

Jim Sutter, CEO of the U.S. Soybean Export Council, was interviewed on the Agri-Pulse Open Mic Interview

 

This week’s guest on Open Mic is Jim Sutter, CEO of the U.S. Soybean Export Council. The nation's soybean industry faces a number of challenges in maintaining global market share. Production is keeping pace with consumption placing greater demands on the domestic industry to satisfy quality standards, sustainability requirements and price. In this interview Sutter outlines the U.S. agreement with China over FM standards, defines the advantages of industry’s soybean sustainability assurance protocol and highlights the search for new global opportunities for the industry. Click here to listen.

 

 

From USDA’s Weekly Broiler Report:

 

Texas hatcheries set 15.7 million eggs in incubators during the week ending January 6, up 4 percent from the week prior, but down 2 percent from the previous year.

 

The number of chicks placed for meat production during the week of January 6, was 13.4 million, up 6 percent from the previous week and up 1 percent from the previous year.