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Agriculture Today

Texas Cash Market recap, June 2


Texas Cash Market recap, June 2
Texas Cash Markets for the week ending June 2


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June 13, 2012
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AUSTIN -- For the week ending June 2, 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 fleshy new-crop calves as much as $7 lower. The Texas direct feeder cattle trade was mostly steady with a few more than 800 pounds to $3 higher. The Oklahoma City auction was closed for Memorial Day. Fed cattle cash prices were near unchanged from the previous week, while Choice beef prices were higher and Select-grade slightly lower. Cotton and grain prices were lower, mainly due to pressure from outside market factors, including a stronger dollar, weaker equity markets, lower crude oil prices and concerns about the European and Chinese economies. Cotton prices saw added pressure from large world supplies and ongoing concerns about Chinese demand. Wheat prices were also impacted by large world stocks and increasing harvest-time supplies.  . . .

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