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Agriculture Today

Texas Cash Market recap, Jan. 7


Texas Cash Market recap, Jan. 7


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January 18, 2012
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AUSTIN -- For the week ending Jan. 7, feeder cattle prices at the Texas locations covered by the U.S. Department of Agriculture (USDA) Market News were higher compared to pre-holiday sales as buyers caught up with orders and demand remained strong for the tight supply of available cattle. Fed cattle cash prices were nearly $1 lower per hundredweight as negative packer margins and lower beef prices continued to pressure the market. Prices across the cattle sector remain well above where they were at this time last year. Cotton prices were higher on indications that U.S. growers will plant fewer acres in 2012 and on steps taken by Pakistan to support their prices. Cash grain prices declined because of more favorable weather in South America, a stronger dollar and competition from cheaper foreign grain. . . .

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