For the week ending Jan. 20, 2017, Texas feeder cattle auctions reported prices steady to $7 higher. Texas Weekly Direct reported prices $1 to $3 higher. Wholesale Beef values were lower, with Choice Grade losing $1.20 to close at $190.42 per hundredweight (cwt) and Select Grade losing 59 cents to close at $186.64 per cwt. For the time period of Jan. 6-12, 2017, net sales totaled 3,700 metric tons (MT) and were reported primarily reported Mexico, Canada and South Korea. Exports totaled 14,300 MT and were reported primarily for Japan, South Korea and Hong Kong.
Cotton prices were higher at the end of last week, with cash prices gaining 0.50 cents to close at 71.25 cents per pound and March futures gaining 0.93 cents to close at 73.04 cents per pound. Net upland sales totaled 346,500 round bales (RB) for 2016-2017, and were up 47 percent from the previous week and 33 percent from the prior four-week average. Increases were reported for Vietnam, Pakistan and Turkey. Exports totaled 222,500 RB, and were up six percent from the previous week but down five percent from the prior four-week average. The primary destinations were China, Vietnam and Indonesia.
Wheat prices were lower at the end of last week, with cash prices losing 16 cents to close at $3.26 per bushel and March futures losing nine cents to close at $4.43 per bushel. Net sales totaled 242,500 MT for delivery in the 2016-2017 marketing year, and were down 38 percent from the previous week and 33 percent from the prior four-week average. Increases were reported for Mexico, Japan and Nigeria. Exports totaled 394,800 MT, and were up noticeably from the previous week and six percent from the prior four-week average. The primary destinations were Mexico, Nigeria and the Philippines.
Corn prices were higher at the end of last week, with cash prices gaining a nickel to close at $3.61 per bushel and March futures gaining six cents to close at $3.70 per bushel. Net sales totaled 1,367,600 MT for 2016-2017, and were up noticeably from the previous week and 69 percent from the prior four-week average. Increases were for Japan, Taiwan and Peru. Exports totaled 927,900 MT, and were up 34 percent from the previous week and 21 percent from the prior four-week average. The primary destinations were Mexico, South Korea and Japan.
Grain sorghum cash prices were higher at the end of last week, gaining eight cents to close at $5.53 per cwt. Net sales totaled 57,000 MT, and were up noticeably from the previous week and 69 percent from the prior four-week average. Increases were reported for China and Mexico. Exports totaled 52,100 MT, and were down 71 percent from the previous week and 66 percent from the prior four-week average. The primary destinations were China, Mexico and Nigeria.
Milk prices were lower at the close of last week, with January Class III milk futures losing two cents to close at $16.77 per cwt.
This week’s U.S. Drought Monitor for Texas showed improving drought conditions for the state, with 17.22 percent of Texas still in some stage of drought intensity, down 7.91 percentage points from last week. On the national level, drought conditions improved slightly, with 39.50 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 2.16 percentage points from last week.
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Week Ending |
Previous |
Previous |
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Texas Cash Markets: |
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Jan. 20, 2017 |
Week |
Year |
|
Feeder Steers |
$/cwt |
129.47 |
128.68 |
152.99 |
|
Fed Cattle |
$/cwt |
120.94 |
N/A |
N/A |
|
Slaughter Lambs |
$/cwt |
175.00 |
186.00 |
203.00 |
|
Slaughter Goats |
$/cwt |
273.00 |
270.00 |
257.00 |
|
Cotton |
¢/lb. |
71.25 |
71.00 |
61.00 |
|
Grain Sorghum |
$/cwt |
5.53 |
5.33 |
5.72 |
|
Wheat |
$/bu. |
3.26 |
3.39 |
3.86 |
|
Corn |
$/bu. |
3.61 |
3.50 |
3.76 |
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Futures Markets: |
|
|
|
|
|
Feeder Cattle |
$/cwt |
133.10 |
130.45 |
159.42 |
|
Fed Cattle |
$/cwt |
120.25 |
118.52 |
132.07 |
|
Cotton |
¢/lb. |
73.04 |
72.27 |
62.45 |
|
Wheat |
$/bu. |
4.43 |
4.49 |
4.71 |
|
Corn |
$/bu. |
3.70 |
3.59 |
3.70 |
|
Lumber |
$/MBF |
325.50 |
316.00 |
234.40 |
|
Class III Milk |
$/cwt |
16.77 |
16.81 |
13.72 |
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 our website, www.TexasAgriculture.gov.