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Agriculture Today

Texas Cash Market recap, Feb. 11


Texas Cash Market recap, Feb. 11


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February 22, 2012
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AUSTIN -- For the week ending Feb. 11, feeder cattle prices at Texas auctions 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 and some to $10 lower. Texas direct feeder sales were $1 to $3 higher. Oklahoma City was mostly steady on feeder cattle and steady to $8 higher on calves with steers posting the biggest gains. Fed cattle cash prices were unchanged from a week ago in moderate trade as packers continue to limit purchases and cut slaughter rates in response to stagnant beef prices and ongoing negative margins. Cotton and grain prices ended the week lower after USDA reported larger than expected world supplies, a stronger dollar and continued concerns that the European debt crisis will stifle demand. However, losses were limited due to tight domestic grain supplies, ongoing concerns about South American crops and worries that cold weather in Eastern Europe may have damaged their winter wheat. . . .

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