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Agriculture Today


Texas Cash Market recap, Mar. 10


Texas Cash Market recap, Mar. 10


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March 21, 2012
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AUSTIN -- For the week ending March 10, feeder cattle prices at Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were steady to $2 lower per hundredweight (cwt) at Panhandle locations, and firm to $2 higher at San Angelo. Tulia noted a larger volume of heavier cattle coming off wheat pastures. Texas feeder sales direct to feedlots were steady to weak, while Oklahoma City was steady to $3 higher on feeder cattle, and $1 to $8 higher on calves. Fed cattle cash prices were down by more than $3 per cwt from the previous week’s record high following a drop in Choice beef values. Cotton cash prices jumped sharply higher early in the week after India announced a ban on cotton exports, including shipments of cotton already sold. Prices declined somewhat, but still closed higher for the week, after India said it would allow sales of yarn and shipments of cotton already sold. Corn and grain sorghum prices were lower mostly because of a stronger dollar, concerns about the broader economy and higher production in Brazil. Wheat prices declined due to improved weather in U.S. growing areas, ample world supplies and higher production in Australia.  . . .

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