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Texas Cash Market recap, Sept. 10
AUSTIN -- For the week ending Sept. 10, feeder cattle prices at Texas Panhandle auctions were mixed, $5 lower per hundredweight to $2 higher. At Oklahoma City West -- El Reno, prices were mostly steady to $2 lower on steers and mostly $2 higher on heifers. 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 nearly $4.50 higher per hundredweight with light to moderate offerings for the second consecutive week. Cotton prices were higher for the week because of expectations for smaller production in the United States. and Pakistan, though markets declined on Friday after India said it would not restrict exports. Corn prices were lower. Wheat prices declined as weak export demand for U.S. wheat more than offset concerns about spring wheat yields and worries that dry conditions will limit winter wheat plantings this fall.
As for futures markets, feeder cattle, fed cattle, and cotton were higher, while wheat, corn, and lumber were lower. A few light showers were reported on the Southern High Plains during the week, while little or no rain fell elsewhere in the state. Topsoil moisture was again rated in short to very short supply statewide and most crops remain in fair to very poor condition, except rice was mostly good to fair. Corn was 72 percent mature and 54 percent of the crop has been harvested, both behind normal for this date. Grain sorghum was 58 percent harvested, also behind the average pace. Cotton bolls were opening on 54 percent of the acreage and 15 percent of the crop has been harvested, both higher than normal. Pastures were again rated in 96 percent very poor to poor condition as supplemental feeding and reductions of livestock herds continue. Winter wheat seedings have delayed by the dry conditions.
Texas Cash Markets for the week ending Sept. 10:
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.
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