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Agriculture Today

Texas Cash Market recap, Dec. 17

Texas Cash Market recap, Dec. 17

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December 28, 2011
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AUSTIN -- For the week ending Dec. 17, feeder cattle prices were mixed. Select Texas auctions were mostly $2 lower to $5 higher per hundredweight, though a trend could not be established at some Panhandle locations because of light receipts the previous week. Texas direct feeder cattle sales were mostly steady to $2 lower, while Oklahoma City was $5 lower to $2 higher. Buyers are willing to pay more for the more desirable offerings and to fill current orders, but lighter demand and the onset of cooler, wetter weather are also keeping a lid on the market. Fed cattle prices were lower as packers were able to lower bids and put a small dent in their negative margins. Cotton and grain prices were again lower amid ongoing concerns about the European debt crisis, weak export demand, and competition from cheaper foreign grain.

As for futures markets, feeder cattle were higher while fed cattle, cotton, wheat, corn, and lumber were lower. Much of the state recorded rainfall during the week with the heaviest amounts in northeast and Central Texas. 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. 17:

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, also available from “Links” at http://www.wilson

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