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Agriculture Today

Texas Cash Market recap, May 19




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May 30, 2012 | 3739 views | Post a comment

AUSTIN -- For the week ending May 19, feeder cattle prices at the Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were mostly steady to $2 higher per hundredweight (cwt), with a few to $5 higher. The Texas direct feeder cattle trade was mostly steady to $4 higher, with the largest increases noted on cattle weighing 800 pounds or more. The Oklahoma City auction was steady to $2 higher. Fed cattle cash prices were almost $3 higher per cwt following increases in beef prices and supportive futures markets. Cotton cash prices were lower due to large world supplies, beneficial rains in parts of the Cotton Belt and news that China, our largest cotton trade partner, intends to limit imports. Corn and grain sorghum prices were higher on news of large Chinese purchases and concerns about dry weather in parts of the Corn Belt. Wheat prices were higher as strong export sales and reports of dry conditions in Kansas and the Black Sea region in Europe offset large current world supplies.  . . .

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