Texas Cash Market recap, Sept. 17
AUSTIN -- For the week ending Sept. 17, feeder cattle prices at Texas Panhandle auctions were mixed $3 lower per hundredweight to $6 higher. At San Angelo, feeders were $3 to $5 lower and at Oklahoma City, prices were $2 to $8 lower on steers, and steady to $2 lower on heifers. Flat fed cattle prices, the likelihood of lower feeder supplies this fall, drought, and lack of grazing were all factors influencing the feeder market. Fed cattle prices were near unchanged and wholesale beef prices were higher. Cotton prices were lower for the week amid continued weak export demand and ample world production. Corn prices declined, mostly because of speculative profit-taking on the underlying futures markets. Wheat prices were again lower because of weak export demand for U.S. wheat.
As for futures markets, feeder cattle and fed cattle were higher, while cotton, wheat, corn, and lumber were lower. Scattered showers fell over much of the state during the week, with some locations mostly east of I-35 and south of I-10 reporting two inches or more of rain. Topsoil moisture improved in areas receiving rain, but remained in mostly short to very short supply statewide. Most crops were again rated in fair to very poor condition, except rice, which was mostly good to fair. Corn was 81 percent mature and 63 percent of the crop has been harvested, behind normal for this date. Grain sorghum was 59 percent harvested, also behind the average pace. Cotton bolls were opening on 66 percent of the acreage and 16 percent of the crop has been harvested, both higher than normal. Pastures were rated in 98 percent very poor to poor condition as supplemental feeding and reductions of livestock herds continue. Winter wheat seedings were 8 percent complete, well behind the usual pace because of the dry conditions.
Texas Cash Markets for the week ending Sept. 17:
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.