Texas Cash Market recap, Aug. 13
AUSTIN -- For the week ending Aug. 13, feeder cattle price trends at Texas auctions were uneven, mostly $1 to $4 lower per hundredweight, with some locations as much as $9 lower and some to $7 higher. High drought-related volumes at many locations along with hot weather and lack of grazing continue to pressure markets, though higher fed cattle and beef prices were supportive. Fed cattle prices were $3 higher following solid gains in wholesale beef prices due to moderating temperatures in parts of the country; the upcoming Labor Day holiday; and strong beef exports. Cotton prices were lower after the U.S. Department of Agriculture (USDA) production forecast came in higher than expected. Prospects for larger crops in China, India, and Pakistan more than offset a smaller, drought-reduced U.S. crop. Corn prices were higher following a lower than expected USDA production forecast. . . .
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Agriculture Today Archives
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