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Agriculture Today

Texas Cash Market recap, Aug. 6


Texas Cash Market recap, Aug. 6


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August 17, 2011
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AUSTIN -- For the week ending August 6, feeder cattle prices at Texas auctions were uneven, with some locations steady to $3 higher per hundredweight and others $2 to $3 lower. High drought-related volumes at some locations, hot weather, and lack of grazing continue to pressure markets, though higher fed cattle were supportive. Fed cattle prices were higher as packers rebuilt supplies following several weeks of relatively light purchases. Cotton prices were lower as prospects for larger crops in China, India, and Pakistan more than offset expectations for a smaller drought-reduced U.S. crop. Corn was higher on concerns about damage in the Corn Belt due to the high temperatures during July.  . . .

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