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Agriculture Today

Texas Cash Market recap, Jan. 14

Texas Cash Market recap, Jan. 14

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January 25, 2012
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AUSTIN -- For the week ending Jan. 14, feeder cattle prices at Texas locations covered by U.S. Department of Agriculture (USDA) Market News were mostly steady to $2 higher per hundredweight, with some steady to $2 lower. Texas direct feeder cattle sales were steady to $2 higher, while Oklahoma City was $4 to $12 higher in its first sale after the holidays. Buyers continue to actively pursue available cattle, though prices have leveled off somewhat following the post-holiday surge. Fed cattle cash prices were $2 higher in spite of lower beef prices and tight packer margins. Cotton and grain prices declined late in the week in reaction to USDA production and stocks reports, a stronger dollar, and ongoing concerns that the European debt crisis could erode demand.

As for futures markets, feeder cattle, fed cattle, and lumber were higher, while cotton, wheat, and corn were lower. Most of the state east of a line from Corpus Christi to Midland to Childress recorded rainfall during the week with the highest totals reported in Southeast Texas. Crop progress and condition information from USDA were not available in time for this week’s recap.

Texas Cash Markets for the week ending Jan. 14:

The cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week.

For more information, contact TDA at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.

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