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Agriculture Today

Texas Cash Market recap, Nov. 12


Texas Cash Market recap, Nov. 12


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November 23, 2011
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AUSTIN -- For the week ending Nov. 12, feeder cattle prices at select Texas auctions were steady to $10 higher per hundredweight. Oklahoma City was steady to $3 higher and Texas direct feeder cattle sales were steady to $4 higher. Competition for a smaller supply of available cattle continues to support the market. Fed cattle prices averaged a record high $125 per hundredweight, up nearly $6 from a week earlier as the Choice beef cut-out value also reached a new record high. Cotton prices increased after weekly export sales came in at nearly 1 million bales, the highest since October 2003. Grain prices were lower amid continuing global economic uncertainty, sluggish exports and reports that some U.S. livestock feeders are importing cheaper feed-grade wheat.  . . .

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