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Texas Cash Market recap, Nov. 5
AUSTIN -- For the week ending Nov. 5, feeder cattle prices at selected Texas auctions were mostly $2 to $11 higher per hundredweight with the most advance on light-weaned calves. Oklahoma City was mixed, $2 lower to $5 higher, and Texas direct feeder cattle sales were mostly steady. Competition for a smaller supply of available cattle continues to support the market, although prospects for diminished winter grazing are also limiting demand. Fed cattle prices were down $1.76 from a week earlier, but remain well above this time a year ago. Wholesale beef prices were lower on Choice, but slightly higher for Select-grade. Cotton prices were lower due to weak export sales and concerns about demand.
Corn and grain sorghum were slightly higher following strong exports, increased Chinese interest and ongoing concerns about the size of the U.S. crop. Wheat declined as weak export sales offset prospects for a smaller U.S. crop in 2012.
As for futures markets, feeder cattle, fed cattle, and corn were higher, while cotton, wheat, and lumber were lower. Little rainfall was recorded anywhere in the state during the week with amounts of one-half inch or more limited to parts of South Texas, East Texas, and an area south of Wichita Falls.
Texas Cash Markets for the week ending Nov. 5:
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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