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Agriculture Today

Texas Cash Market recap, Nov. 19


Texas Cash Market recap, Nov. 19


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November 30, 2011
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AUSTIN -- For the week ending Nov. 19, feeder cattle prices at selected Texas auctions were mostly steady to $5 higher per hundredweight, with a few to $5 lower. Oklahoma City was mostly steady to $3 higher and Texas direct feeder cattle sales were mostly steady. Competition for a shrinking supply of available cattle continues to support the market. Fed cattle prices declined by $2.19 from last week’s record high, as packers were able to recapture some of last week’s gains and reduce their losses. Beef cut-out values were higher with Choice beef reaching a new record high. Cotton and grain prices were lower mostly because of the ongoing global economic uncertainty and weak grain exports. Cotton prices fell below 90 cents per pound for the first time since September 2010 as strong exports failed to offset concerns that demand will suffer.  . . .

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