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Agriculture Today

Texas Cash Market recap, April 7


Texas Cash Market recap, April 7


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April 18, 2012
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AUSTIN -- For the week ending April 7, feeder cattle price trends at Texas auctions covered by the U.S. Department of Agriculture Market News were mostly steady to $4 lower per hundredweight (cwt), though one location reported 600-700 pound steers $2-$3 higher. The Texas direct feeder cattle trade was steady to weak with few comparable sales for immediate delivery. Oklahoma City was $4 to $8 lower on feeder cattle and steady to $15 lower on calves. Fed cattle cash prices were $3 lower per cwt from the previous week following continued declines in beef values. Cotton cash prices were lower as ample global supplies and weak demand continue to pressure the market. Net export sales were negative following large cancellations by China and Brazil, but shipments remained strong at more than 422,000 bales. Wheat prices were lower due to large world supplies and improved weather on the U.S. Plains. Corn and grain sorghum prices were higher following a strong export sales report.  . . .

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