Texas Cash Market recap, June 18
AUSTIN -- For the week ending June 18, feeder cattle price trends at Texas auctions were again mixed, from $10 lower to $6 higher per hundredweight. The hot, dry weather, poor pasture conditions, tight cattle supplies, higher fed cattle markets, and lower grain prices were again the primary market factors. Fed cattle prices were $3 higher following increases in wholesale beef prices. Cotton cash prices were again lower due to weak export sales. Wheat prices were lower as supplies from this year’s harvest increased. Corn declined on more favorable weather in the Midwest.
As for futures markets, feeder cattle, and fed cattle were higher while cotton, wheat, corn, and lumber were lower. Very little rainfall was recorded in the state last week with only a few scattered showers reported north and west of a line from Presidio to Texarkana. Topsoil moisture was reported in mostly short to very short supply statewide. Wheat harvest was 71 percent complete, well ahead of the normal 51 percent with the crop rated in mostly very poor to poor condition. Corn was 58 percent silked. Grain sorghum planting was 87 percent complete and 67 percent of the crop is headed. The cotton crop is 97 percent planted and 12 percent of the acreage is setting bolls, both ahead of normal. Most crops were rated in fair to very poor condition with condition indexes well below where they were at this time last year. Pastures remain in mostly very poor to poor condition as supplemental feeding and reductions of livestock herds continue.
Texas Cash Markets for the week ending June 18:
•Feeder steers, $129.41/cwt
•Fed cattle, $108.14/cwt
•Slaughter lambs, $140.50/cwt
•Slaughter goats, $164.25/cwt
•Grain sorghum, $11.40/cwt
•Oranges, $11.50/50 lbs
Futures markets:•Feeder cattle, $132.65/cwt
•Fed cattle, $109.75/cwt
•Lumber, $223.60/1000 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.