AUSTIN -- For the week ending Oct. 29, feeder cattle prices at select Texas auctions were steady to $5 higher per hundredweight. Oklahoma City feeder cattle prices were mostly steady. Texas direct feeder cattle sales were steady to $2 higher. Competition for a smaller supply of available cattle continues to support the market though prospects for diminished winter grazing are also limiting demand. Fed cattle prices were modestly higher and wholesale beef cut-out values were higher. Cotton prices were higher based on strong weekly export sales and optimism that demand will recover along with the global economy. Grain prices were higher on prospects for improved global demand. The very dry conditions on the U.S. Southern Plains added to gains for wheat, but continued poor export demand limited the increase. . . .
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