Texas Cash Market recap, May 21
AUSTIN -- For the week ending May 21, feeder cattle price trends at Texas auctions were mixed, from $3 lower per hundredweight to $6 higher. Some locations were as much as $8 lower and a few were as much as $10 higher. Tight supplies, poor pasture conditions, lower fed cattle markets, and fluctuating grain prices were again the primary influences on markets. Cotton prices were higher amid concerns about the drought in Texas and parts of the southeastern United States. Corn and grain sorghum prices increased because of continued planting delays in the eastern Corn Belt. Wheat prices were higher in response to drought in winter wheat growing areas, such as Texas, and planting delays in spring wheat areas.
As for futures markets, cotton, wheat, corn, and lumber were higher while feeder cattle and fed cattle were lower. Much of the state east of a line from Childress to Del Rio received rainfall during the week ranging from less than one-half inch to more than two inches in some locations. Topsoil moisture remains mostly short to adequate in parts of East and North Texas, but mostly short to very short elsewhere. The winter wheat crop was 97 percent headed and 14 percent of the acreage has been harvested. Corn planting was 97 percent complete and 84 percent has emerged. Cotton was 45 percent planted and 73 percent of the grain sorghum crop has been planted. Corn, rice, and soybeans were rated in mostly fair to good condition while grain sorghum was mostly fair to poor. Wheat and pastures were reported in mostly poor to very poor condition.
Texas Cash Markets for the week ending May 21:
•Feeder steers, $138.42/cwt
•Fed cattle, $107.84/cwt
•Slaughter lambs, $185.50/cwt
•Onions, $9.00/50 lbs.
Futures markets:•Feeder cattle, $125.45/cwt
•Fed cattle, $104.98/cwt
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.