Texas Cash Market recap, Jan. 28
AUSTIN -- For the week ending Jan. 28, feeder cattle prices at the Texas locations covered by the U.S. Department of Agriculture (USDA) Market News were mostly steady to $5 higher per hundredweight, with a few to $10 higher. Texas direct feeder sales were steady to $4 higher. Oklahoma City was mostly $2 to $4 higher on feeder cattle, steady to $4 lower on steer calves and $1 to $4 higher on heifer calves. Buyers continue to actively pursue available cattle with prices pushed higher on concerns that future supplies will be even tighter. Fed cattle cash prices were $2 lower in light trade after wholesale beef prices declined late in the week, further eroding packer margins. Cotton prices were lower following weak export sales during the Chinese New Year. Corn and grain sorghum were higher after another week of strong export sales and continued prospects for lower South American production. Wheat prices followed corn higher, but ample global supplies limited gains. . . .
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