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Agriculture Today


Texas Cash Market recap, Oct. 15


Texas Cash Market recap, Oct. 15


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October 26, 2011
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AUSTIN -- For the week ending Oct. 15, feeder cattle prices at Texas Panhandle auctions and San Angelo were steady to $5 higher per hundredweight, while Oklahoma City was mostly steady. Texas direct feeder cattle sales were steady to $2 higher. Market influences remain unchanged as historically high fed cattle prices, prospects for tighter feeder supplies, the drought, and lack of grazing were all factors. Fed cattle prices were $2 lower and wholesale beef prices were higher on Choice-grade and lower on Select. Cotton cash prices declined after the U.S. Department of Agriculture (USDA) reported larger than expected global supplies. Corn, grain sorghum, and wheat were higher.

As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn, and lumber were higher. Parts of north and east Texas, and the Coastal Bend reported an inch or more of rain, but most of the state recorded little or no precipitation. Topsoil moisture remains in mostly short to very short supply. Most crops were again rated in fair to very poor condition, except grain sorghum, which was mostly good to poor. Corn was 87 percent harvested, equal to the average for this date. Grain sorghum harvest was behind normal at 73 percent complete. Cotton bolls were opening on 93 percent of the acreage and 30 percent of the crop has been harvested, both ahead of the average pace. Winter wheat seedings were 52 percent complete, well behind the average 72 percent because of very dry conditions, and 19 percent of the acreage has emerged. Peanut harvest is 58 percent complete and 81 percent of the soybean acreage has been harvested. Orange and sugarcane harvest are also underway in the Lower Rio Grande Valley. Pastures were rated in 94 percent very poor to poor condition as supplemental feeding and livestock herd reductions continue.

Texas Cash Markets for the week ending Oct. 15:

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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