Source: Texas Department of Agriculture
For the week ending Feb. 5, 2016, Texas feeder cattle auction reported prices steady to $15 higher. Wholesale Beef values were higher, with Choice gaining $0.08 to close at $220.60 per hundredweight (cwt) and Select Grade gaining $0.85 to close at $216.51 per cwt. For the time period of January 25-31, the USDA NASS Field Office reported that pastures continued to progress, as livestock producers across the state continued supplemental feeding. Feral hogs were active in areas of the Blacklands and North East Texas. Dry conditions and low humidity levels caused wildfire concerns in areas of the Southern Low Plains. For the time period of Jan. 22-28, net sales totaled 9,500 metric tons (MT) for 2016 and were reported for South Korea, Japan and Hong Kong. Exports totaled 12,400 MT — a marketing-year high. Exports were up 6 percent from the previous week and 24 percent from the prior 4-week average. The primary destinations were Japan, South Korea and Hong Kong.
Cotton prices were lower at the end of last week, with cash prices losing 2.25 cents to close at 58.37 cents per pound. March futures prices were down, losing 1.82 cents to close at 59.97 cents per pound. The USDA NASS Field Office reported statewide cotton harvest was 97 percent complete, which is three points behind normal. Net upland sales totaled 251,600 round bales (RB) for 2015-2016 and were up 96 percent from the previous week and 75 percent from the prior four-week average. Increases were reported for Turkey, Vietnam and Pakistan. Exports totaled 233,500 RB — a marketing-year high. This is up 49 percent from the previous week and 75 percent from the prior four-week average. The primary destinations were Vietnam, Turkey and Mexico.
Wheat prices were lower at the end of last week, with cash prices losing $0.12 to close at $3.69 per bushel. March futures prices were down, losing $0.13 to close at $4.54 per bushel. The USDA NASS Field Office reported that the Winter Wheat crop and oats continued to progress, with some producers in areas of South Texas beginning to irrigate wheat and oat fields due to dry conditions. However, overall conditions were rated mostly good to fair. Net sales totaled 66,200 MT — a marketing-year low — for delivery in the 2015-2016 marketing year. Sales were down 78 percent from the previous week and 74 percent from the prior four-week average. Increases were reported for Yemen, Mexico and Trinidad. Exports totaled 230,300 MT and were down 26 percent from the previous week and 34 percent from the prior four-week average. The primary destinations were South Korea, the Philippines and Japan.
Corn prices were lower at the end of last week, with corn cash prices losing $0.04 to close at $3.72 per bushel. March futures prices lost $0.05 to close at $3.66 per bushel. The USDA NASS Field Office reported that some producers in areas of the Blacklands have begun applying fertilizer in preparation for corn seeding. Net sales totaled 1,129,100 MT for 2015-2016. Sales were up 38 percent from the previous week and 56 percent from the prior four-week average.
Increases were reported for Mexico, Colombia and Japan. Exports totaled 660,700 MT and were up two percent from the previous week and 19 percent from the prior four-week average. The primary destinations were Mexico, Colombia and South Korea.
Milk prices were higher at the close of last week, with February Class III milk futures gaining $0.10 to close at $13.83 per cwt.
This week’s U.S. Drought Monitor for Texas showed 2.34 percent of Texas is still experiencing some form of drought, which is up just slightly from last week. On the national level, drought conditions worsened slightly, with 28.92 percent of the U.S. experiencing abnormal dryness or some degree of drought.
|Texas Cash Markets:||Feb. 5, 2016||Week||Year|
|Class III Milk||$/cwt||13.83||13.73||15.88|
MBF = thousand board feet.
All cash prices above are market averages for locations covered by the USDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for Texas direct sales of 650-850 pound medium and large No.1 steers for current delivery. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.”
For additional information, contact TDA at 800-835-5832 or visit www.TexasAgriculture.gov.