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Agriculture Today


Texas Cash Market recap, Mar. 17


Texas Cash Market recap, Mar. 17


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March 28, 2012
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AUSTIN -- For the week ending March 17, feeder cattle prices at Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were steady to $2 higher per hundredweight (cwt), with heifers over 700 pounds steady to $2 lower at one location. Texas feeder cattle sales direct to feedlots were mostly steady to $2 lower on cattle weighing more than 800 pounds and firm on lighter weights. Oklahoma City was mostly lower early in the session before turning higher later in the day. Fed cattle cash prices were down by about 50 cents per cwt from the previous week following continued declines in beef values. otton cash prices declined after India rescinded its ban on cotton exports, though considerable uncertainty remained about when actual shipments would resume. Corn and grain sorghum prices were higher due to speculation about corn sales to China and continued tight domestic supplies. There were also concerns that higher soybean prices relative to corn would pull additional acreage from corn into soybeans and thus further restrict supplies. Wheat prices were higher amid worries that warm temperatures on the U.S. southern plains are causing winter wheat to break dormancy early, leaving the crop vulnerable to moisture stress and a late freeze.  . . .

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