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Agriculture Today

Texas Cash Market recap, April 23




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May 4, 2011 | 2973 views | Post a comment

AUSTIN -- For the week ending April 23, feeder cattle prices at Texas auctions were mostly $3 to $8 lower per hundredweight, though a few locations noted prices $2 to $5 higher on at least a portion of their offerings. Fed cattle prices were unchanged. Cotton prices continued to fall because of weaker Chinese demand. Corn and grain sorghum prices declined on prospects for improved planting weather in the Midwest. The dry conditions on the U.S. Central Plains pushed wheat higher. As for futures markets, feeder cattle, fed cattle and wheat were higher while cotton, corn and lumber were all lower. Rainfall ranging from a trace to locally heavy amounts of three inches or more fell in a band from Southwest to Northeast Texas. However, topsoil moisture supplies remain mostly short to very short with the entire state under drought conditions, according to the latest U.S. Drought Monitor. The winter wheat crop is 48 percent headed and reported in mostly fair to very poor condition due to the lack of moisture. Corn planting progressed to a near-normal 66 percent complete and grain sorghum is 55 percent planted, behind the average 61 percent by this date. Cotton was 14 percent planted, compared to 18 percent on average. Rice is ahead of normal with 87 percent of the acreage planted and 71 percent emerged. Corn, grain sorghum and rice were rated in mostly fair condition. Pastures were reported in mostly poor to very poor condition and needing rain statewide. . . .

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