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Agriculture Today

Texas Cash Market recap, Sept. 3


Texas Cash Market recap, Sept. 3


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September 15, 2011
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AUSTIN -- For the week ending Sept. 3, feeder cattle prices at Oklahoma City were mostly steady to $3 higher per hundredweight, with Texas Panhandle auctions and direct sales to feedlots steady to $4 higher. Higher fed cattle and the likelihood for lower supplies this fall remain supportive, though the drought and lack of grazing continue to pressure markets. Fed cattle prices were 50 cents higher per hundredweight in spite of lower wholesale beef prices. Cotton prices were higher for the week on better-than-expected export sales, the drought and potential for crop damage in the southeastern U.S. due to Tropical Storm Lee. Corn prices were lower, mostly due to weak exports and profit taking on the underlying futures market. Wheat prices were higher because of concerns about spring wheat yields and worries that the drought will prevent winter wheat seedings this fall.  . . .

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