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Texas Cash Market recap, Feb. 4
AUSTIN -- For the week ending Feb. 4, feeder cattle prices at Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were steady to $5 higher per hundredweight, with a few to $10 higher. Texas direct feeder sales were steady to $2 higher. Oklahoma City was mostly steady to $2 higher on feeder cattle and $3 to $6 higher on calves. Heifer calves posted the biggest gains at many locations as feeder and replacement buyers competed for the limited offerings. Fed cattle cash prices were $1 lower in moderate trade as packers continue to limit purchases and cut slaughter rates in response to stagnant beef prices and ongoing negative margins. Cotton prices were higher following strong export shipments, prospects for increased Chinese purchases and moves by Pakistan to boost its domestic prices. Corn and grain sorghum were higher amid ongoing concerns about South American crops and tight domestic supplies. Wheat prices were higher on concerns that cold weather damaged the crop in Europe and reports of possible Russian export restrictions. However, the market retreated somewhat late in the week after Russia said it had no plans to limit exports.
As for futures markets, cotton, wheat, corn, and lumber were higher, while feeder cattle and fed cattle were lower. The eastern half of the state and the Panhandle saw precipitation during the week with the heaviest amounts east of a line from Laredo to Dallas. Topsoil moisture remained in short to very short supply in much of west and south Texas while the remainder of the state was mostly short to adequate. Some areas of surplus moisture were reported, mostly in the Blacklands region and in East Texas. Winter wheat was 97 percent emerged and in mostly good to poor condition. Preparations for spring planting are underway in many areas. Winter vegetable harvest is progressing. Pastures were rated in mostly fair to very poor condition, though recent rains and warm temperatures have helped winter grasses.
Texas Cash Markets for the week ending Feb. 4:
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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