AUSTIN -- For the week ending July 23, feeder cattle prices at Texas auctions were mostly $2 to $8 lower per hundredweight. Lower fed cattle and beef prices contributed to the decrease. The drought was also a factor as calves are being marketed earlier than normal because of the lack of grazing, which is increasing supplies and lowering prices. Fed cattle prices were $2.50 lower following a decline in wholesale beef values. Cotton cash prices fell because of continued weak exports and concerns about future demand. Corn prices were lower on forecasts for improved growing conditions in the Midwest. Wheat prices increased because of tight supplies of high protein winter wheat. . . .
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