Texas Cash Market recap, May 28
AUSTIN -- For the week ending May 28, feeder cattle price trends at Texas auctions were mixed, from $10 lower to $6 higher. Poor pasture conditions, tight supplies, lower fed cattle markets and fluctuating grain prices were again the primary influences on markets. Fed cattle prices were lower. Cotton prices were lower as export demand continues to falter. Corn and grain sorghum were higher because of continued planting delays in the eastern Corn Belt, while drought on the Great Plains and spring wheat planting delays pushed wheat prices higher.
As for futures markets, feeder cattle, fed cattle, cotton, and corn were lower while wheat and lumber were higher. Parts of southeast and north-central Texas reported an inch or more of rain, but most of the state recorded little or no rainfall during the week. Topsoil moisture was rated adequate to short in parts of the Blacklands and Northeast Texas, and short to very short elsewhere. By week’s end, wheat was 99 percent headed and 19 percent harvested, both ahead of normal. Cotton was 65 percent planted, slightly behind normal, and 11 percent was squaring. Corn is 98 percent planted and 36 percent of the acreage is silking. Grain sorghum is 78 percent planted and 50 percent of the crop has headed. Corn, cotton, rice, and grain sorghum were rated in mostly fair to good condition, while pastures were mostly poor to very poor.
Texas Cash Markets for the week ending May 28:
•Feeder steers, $129.93/cwt
•Fed cattle, $104.02/cwt
•Slaughter lambs, $167/cwt
•Slaughter goats, $211/cwt
•Onions, $11.50/50 lbs.
•Pine Saw Logs, $194.88/
$1,000 bd ft
•Pine Pulpwood, $5.31/ton
Futures markets:•Feeder cattle, $122.72/cwt
•Fed cattle, $104.10/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.wilsoncountynews.com .