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Agriculture Today

Texas Cash Market recap, Sept. 24


Texas Cash Market recap, Sept. 24


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October 5, 2011
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AUSTIN -- For the week ending Sept. 24, feeder cattle prices at Texas Panhandle auctions were mostly steady to $5 lower per hundredweight. Feeders were $1 to $3 lower at San Angelo and steady to $3 lower at Oklahoma City. Market influences remain unchanged as lower fed cattle, prospects for lower feeder supplies, drought and lack of grazing were all factors. Fed cattle prices were $1.42 lower and wholesale beef prices were lower. Cotton and wheat prices were lower amid continued weak export demand and ample world production. Corn prices declined due to ongoing questions about demand and pressure from increased harvest-time supplies. Cotton and grain supplies could again become a concern with drought reducing Texas cotton production and threatening the winter wheat crop. Corn also is still vulnerable with less than half the U.S. crop mature and only 18 percent harvested.  . . .

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