Aug
22
2016
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Posted 6 years 168 days ago ago by
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Feeder
cattle auctions reported prices steady to $4 higher; Futures higher.
Fed
cattle cash trade inactive; Formula trades lower; Futures lower; Beef prices mixed.
Cotton
mixed.
Grains
and Soybeans mixed.
Milk
futures steady.
Crude
oil lower; Natural gas higher.
Stock
markets lower.
Texas feeder cattle auctions reported prices
steady to $4 higher. Feeder cattle futures were $0.95 higher, closing at
$147.02 per hundredweight (cwt). The Texas fed cattle cash trade was inactive
today. Whole sale boxed beef values were mixed with choice grade gaining
$0.34 to close at $201.34 per cwt and select grade losing $0.26 to close at $193.87
per cwt. Fed cattle futures were $0.13 lower, closing at $113.42 per
cwt. Estimated slaughter for the week totaled 112,000 down 1,000 from last
week’s total and up 3,000 from last year’s total.
Cotton prices were mixed with cash prices losing
0.88 cents to close at 65.12 cents per pound and October futures gaining 0.35
cents to close at 67.92 cents per pound.
Corn prices were mixed with cash prices
gaining $0.01 to close at $3.26 per bushel and September futures losing $0.01
to close at $3.33 per bushel. Grain Sorghum cash prices were higher, gaining $0.02 to close at $4.79
per cwt.
Wheat prices were lower with cash prices losing
$0.05 to close at $3.17 per bushel and September futures losing $0.05 to close
at $4.14 per bushel.
Milk prices were steady
with August Class III Milk futures remaining at $16.95 per cwt.
Stock
Markets
were lower today, as stock markets fell behind declines in oil prices. Crude
oil prices were lower, with September crude oil futures losing $1.47 to
close at $47.05 per barrel.
Daily Market Summary Data 08/22/16
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From Weekly Recap:
AUSTIN – (Aug. 22, 2016) For
the week ending Aug. 19, 2016, Texas feeder cattle auctions reported prices
steady to $10 higher, with instances of steady to $3 lower. Texas Weekly Direct
reported prices steady to $3 lower. Wholesale Beef values were lower, with Choice
Grade losing $1.60 to close at $200.07 per hundredweight (cwt) and Select Grade
losing $0.58 to close at $193.60 per cwt. For the time period of Aug. 8-14, the
USDA NASS Field Office reported that range and pasture conditions across the
state continued to decline due to excessive heat and lack of moisture. Ponds
and stock tanks were quickly losing water to evaporation, and available forages
were showing stress. Livestock were in generally good condition across the
state. For the time period of Aug. 5-11, exporters reported net sales of 14,100
metric tons (MT) for 2016, which were down 39 percent from the previous week
and 18 percent from the prior four-week average. Increases were reported for
South Korea, Japan and Hong Kong. Exports totaled 14,700 MT, which were up
three percent from the previous week and one percent from the prior four-week
average. The primary destinations were South Korea, Japan and Mexico.
Cotton
prices were lower at the end of last week, with cash prices losing 0.50 cents
to close at 64.87 cents per pound and October futures prices losing 0.52 cents
to close at 67.57 cents per pound. The USDA NASS Field Office reported that
irrigated cotton made progress in the High Plains and many fields had reached
cut-out stage. Dry land cotton remained greatly in need of moisture in the
Edwards Plateau, while cotton harvest in the Coastal Bend and Upper Coast was
progressing well due to hot, dry conditions. In South Texas, cotton was in the
boll opening stage and ready for defoliation. Net sales totaled 205,000 round
bales (RB) for 2016-2017 and were reported for Vietnam, Indonesia and Turkey.
Exports totaled 175,800 RB, which were reported to Pakistan, Vietnam and India.
Wheat
prices were higher at the end of last week, with cash prices gaining $0.08 to
close at $3.24 per bushel and September wheat futures gaining $0.07 to close at
$4.19 per bushel. The USDA NASS Field Office reported that preparations
continued for Winter Wheat and small grain seedings across the state. Net sales
totaled 489,500 MT for 2016-2017, which were down 19 percent from the previous
week but up two percent from the prior four-week average. Increases were
reported for Brazil, Taiwan and the Philippines. Exports totaled 717,900 MT — a
marketing-year high — and were up 77 percent from the previous week and 52
percent from the prior four-week average. The primary destinations were Brazil,
Japan and Nigeria.
Corn
prices were higher at the end of last week, with cash prices gaining $0.05 to
close at $3.25 per bushel and September corn futures gaining $0.07 to close at
$3.34 per bushel. The USDA NASS Field Office reported that corn harvest
continued in areas of the Blacklands, Edwards Plateau, East Texas and South
Central Texas. Net sales totaled 167,400 MT for 2015-2016 — a marketing-year
low — and were down 72 percent from the previous week and 61 percent from the
prior four-week average. Increases were reported for Japan, South Korea and
Peru. Exports totaled 1,166,300 MT, which were down 19 percent from the
previous week and 10 percent from the prior four-week average. The primary
destinations were Japan, Mexico and Taiwan.
Grain
sorghum cash prices were higher gaining $0.09 to close at $4.77 per cwt. The
USDA NASS Field Office reported that sorghum harvest was in full swing in the
Edwards Plateau and East Texas, and producers were bailing sorghum in some
areas of the Blacklands. Net sales totaled 60,700 MT for 2015-2016 and were
reported for China and Japan. Exports totaled 9,600 MT, which were down 67
percent from the previous week and 40 percent from the prior four-week average.
The destinations were China, Japan and Mexico.
Milk
prices were lower at the close of last week, with August Class III milk futures
losing $0.05 to close at $16.95 per cwt.
This week’s U.S. Drought Monitor for Texas
showed a significant improvement in drought conditions for the state, with only
28.76 percent of Texas still in some stage of drought intensity, down 15.41
percentage points from last week. On the national level,
drought conditions improved, with 43.53 percent of the U.S. experiencing
abnormal dryness or some degree of drought, down 3.67 percentage points from
last week.