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Texas Cash Market recap, Dec. 3
AUSTIN -- For the week ending Dec. 3, feeder cattle prices at select Texas auctions were steady to $10 higher per hundredweight with the most advance on lighter-weight calves. Texas direct feeder cattle sales were mostly steady while Oklahoma City was steady to $12 higher. Competition for a shrinking supply of available cattle continues to support the market. Fed cattle prices were unchanged in spite of a decline in wholesale beef values. Cotton and grain prices were higher after central banks took steps to relieve the European debt crisis, thereby boosting optimism that demand will improve in the near future. However, weak current exports limited gains.
As for futures markets, feeder cattle, fed cattle, cotton, wheat, and corn were higher while lumber was lower. Much of the state north of a line from roughly Nacogdoches to Corpus Christi to Odessa recorded rainfall during the week with heaviest amounts mostly west of I-35. Crop progress and crop condition information are not available as the U.S. Department of Agriculture has discontinued its weekly reports until after the first of the year.
Texas Cash Markets for the week ending Dec. 3:
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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