|
Aug
29
2016
|
|
Posted 6 years 210 days ago ago by
|
|
Feeder
cattle auctions reported prices steady to $5 lower; Futures lower.
Fed
cattle cash trade inactive; Formula trades higher; Futures higher; Beef prices
lower.
Cotton
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 $5 lower. September Feeder cattle futures were $0.77 lower,
closing at $139.15 per hundredweight (cwt). The Texas fed cattle cash
trade was inactive today. Whole sale boxed beef values were lower with
choice grade losing $1.06 to close at $198.42 per cwt and select grade losing $1.23
to close at $192.34 per cwt. Fed cattle futures were $0.40 higher,
closing at $110.75 per cwt. Estimated slaughter for the week totaled 112,000 on
par with last week’s total and up 2,000 from last year’s total.
Cotton prices were lower with cash prices losing
1.00 cents to close at 64.12 cents per pound and October futures losing 1.02
cents to close at 66.69 cents per pound.
Corn prices were lower with cash prices
losing $0.02 to close at $3.07 per bushel and September corn futures losing
$0.04 to close at $3.12 per bushel. Grain Sorghum cash prices were lower,
losing $0.08 to close at $4.40 per cwt.
Wheat prices were lower with cash and
September wheat futures both losing $0.16 to close at $2.89 per bushel and $3.74
per bushel, respectively.
Milk prices were higher
with August Class III Milk futures gaining $0.01 to close at $16.92 per cwt.
Stock
Markets
were higher today, behind Federal Reserve chairwoman Janet Yellen’s remarks last
Friday stating that the case for a short-term interest rate increase has
improved. Crude oil prices were lower, with October crude oil futures losing
$0.66 to close at $46.98 per barrel.
Daily Market Summary Data 08/29/16
If
you are interested in receiving this daily report, please subscribe here.
From
Weekly Recap:
AUSTIN – (Aug. 29,
2016) For the week ending Aug. 26, 2016, Texas feeder cattle auctions reported
prices steady to $5 higher, with instances of steady to $3 lower. Texas Weekly
Direct reported prices steady to $5 lower. Wholesale Beef values were lower,
with Choice Grade losing $1.66 to close at $199.48 per hundredweight (cwt) and
Select Grade losing $0.30 to close at $193.57 per cwt. For the time period of
Aug. 15-21, the USDA NASS Field Office reported showers helped green pastures
and rangeland in many parts of the state, while conditions continued to decline
in areas of the Southern Low Plains. Stock ponds refilled and livestock were in
good condition throughout the state. For the time period of Aug. 12-18,
exporters reported net sales of 8,000 metric tons (MT) for 2016, which were
down 43 percent from the previous week and 53 percent from the prior four-week
average. Increases were reported for South Korea, Taiwan and Mexico. Exports
totaled 13,900 MT, which were down five percent from the previous week and four
percent from the prior four-week average. The primary destinations were South
Korea, Japan and Mexico.
Cotton prices were
mixed at the end of last week, with cash prices remaining at 65.12 cents per
pound and October futures prices losing 0.21 cents to close at 67.71 cents per
pound. The USDA NASS Field Office reported that cooler temperatures slowed cotton
development in areas of the Northern Low Plains, and cotton harvest was delayed
due to rainfall in the Coastal Bend, South Central and South Texas. In the
Upper Coast and South Texas, some cotton defoliation was taking place but was
also delayed. Net sales totaled 275,900 round bales (RB) for 2016-2017 and were
reported for China, Pakistan and Vietnam. Exports totaled 193,500 RB and were
reported to Vietnam, India and Turkey.
Wheat prices were
lower at the end of last week, with cash prices losing $0.12 to close at $3.05
per bushel and September wheat futures losing $0.24 to close at $3.90 per
bushel. The USDA NASS Field Office reported that wheat producers continued to
cultivate fields in preparation for fall seeding. Rainfall in the Northern High
Plains and Cross Timbers helped to soften the ground for plowing. Net sales
totaled 379,700 MT for 2016-2017, which were down 22 percent from the previous
week and 21 percent from the prior four-week average. Increases were reported
for Japan, Jamaica and Taiwan. Exports totaled 564,000 MT, which were down 21
percent from the previous week but unchanged from the prior four-week average.
The primary destinations were Indonesia, Taiwan and Colombia.
Corn prices were
lower at the end of last week, with cash and futures prices both losing $0.17
to close at $3.09 per bushel and $3.16 per bushel, respectively. The USDA NASS
Field Office reported corn continued to progress in areas of the High Plains.
In areas of the Edwards Plateau, corn harvest was nearing completion. Net sales
totaled 71,100 MT for 2015-2016 — a marketing-year low — and were down 58
percent from the previous week and 82 percent from the prior four-week average.
Increases were reported for Japan, Bangladesh and Israel. Exports totaled
1,045,900 MT, which were down 10 percent from the previous week and 18 percent
from the prior four-week average.
Grain sorghum cash
prices were down, losing $0.31 to close at $4.48 per cwt. The USDA NASS Field
Office reported sorghum continued to progress in areas of the High Plains, and
sorghum fields reached the blooming stage in areas of the Blacklands. In areas
of the Edwards Plateau, sorghum harvest was nearing completion. For 2016-2017,
net sales totaled 68,900 MT and were reported for unknown destinations and Mexico.
Exports totaled 2,300 MT, which were down 97 percent from the previous week and
99 percent from the prior four-week average. The destinations were Mexico and
Indonesia.
Milk prices were
lower at the close of last week, with August Class III milk futures losing
$0.04 to close at $16.91 per cwt.
This
week’s U.S. Drought Monitor for Texas showed an
improvement in drought conditions for the state, with only 14.93 percent of
Texas still in some stage of drought intensity, down 13.83 percentage points
from last week. On the national level, drought conditions improved
slightly, with 45.37 percent of the U.S. experiencing abnormal dryness or some
degree of drought, down 1.91 percentage points from last week.