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Texas Cash Market recap, May 26
AUSTIN -- For the week ending May 26, feeder cattle prices at the Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were mostly steady to $6 higher per hundredweight (cwt), with a few to $10 higher and some steady to $3 lower on heifer calves. The Texas direct feeder cattle trade was $2 to $5 higher, with the largest increases noted on cattle weighing 800 pounds or more. The Oklahoma City auction was mostly $2 to $6 higher. Fed cattle cash prices declined by more than $2 per cwt due to weaker packer demand ahead of a workweek shortened by the Memorial Day holiday. Cotton cash prices were again lower as large world supplies continue to burden the market. A favorable export sales report helped ease concerns that China will limit purchases, but there were also rumors that it was preparing to sell cotton in storage to free-up warehouse space. Grain prices were lower mostly due to pressure from outside market factors, including a stronger dollar, weaker equity markets, and concerns about the European economy. Corn and grain sorghum prices were also pressured by weak exports, but losses were limited by dry, warm, and windy conditions in the Corn Belt. Wheat prices were also impacted by improved exports and increasing harvest-time supplies.
As for futures markets, feeder cattle and lumber were higher, while fed cattle, cotton, wheat, and corn were lower. Parts of southeast Texas and much of West Texas west of a line from Eagle Pass to Wichita Falls recorded rainfall last week with amounts generally one-half inch or less. The weekly crop condition and progress information from the USDA National Agricultural Statistics Service was not available in time to be included in this week’s market recap.
Texas Cash Markets for the week ending May 26:
The cash prices above are market averages for locations covered by the USDA Market News program and do not reflect any particular sale at any specific location.
Feeder cattle prices are for 500-600 pound medium and large No. 1 steers at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week.
*see attached image.
For more information, contact TDA at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.
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