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Texas Cash Market recap, Mar. 26
AUSTIN -- For the week ending March 26, feeder cattle price trends at Texas auctions were very uneven with some locations as much as $5 lower per hundredweight than the previous week, and some as much as $5 higher. Fluctuating grain prices, lower fed cattle and tight supplies of feeders contributed to the unevenness. Cotton prices were higher for the week because of continued strong export sales and short supplies. Grain prices were also higher on strong exports and concerns about dry weather on the U.S. Central Plains and wet weather in the Midwest.
As for futures markets, feeder cattle, fed cattle, cotton, wheat, and corn were higher while lumber was unchanged. Little or no rainfall was recorded anywhere in the state during the week. Topsoil moisture supplies were mostly short to very short statewide and crops and pastures in most of the state need rain. The winter wheat crop was 2 percent headed and rated in mostly fair to very poor condition. Fifty-percent of the corn acreage was planted and 16 percent has emerged. Cotton was 8 percent planted, grain sorghum planting stood at 46 percent complete, and 44 percent of the state’s rice acreage was planted. Planting progress is ahead of the normal pace for most crops, but additional moisture is needed for germination and growth. Pastures were rated in mostly fair to very poor condition.
Texas Cash Markets for the week ending March 28:
•Feeder steers, $148.38/cwt
•Fed cattle, $113.23/cwt
•Slaughter lambs, $219.17/cwt
•Slaughter goats, $233.33/cwt
•Grain sorghum, $11.43/cwt
•Feeder cattle, $131.90/cwt
•Fed cattle, $118.60/cwt
•Lumber, $319.40/1000 bd ft.
The cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location.
Feeder cattle prices are for 500-600 pound medium and large No. 1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week.
For more information, contact TDA Market News at 1-800-252-3407 or visit the website, http://www.tdamarket news.com, also available from “Links” at http://www.wilson countynews.com.
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