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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. . . .

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