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Agriculture Today

Texas Cash Market recap, June 9


Texas Cash Market recap, June 9


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June 20, 2012
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AUSTIN -- For the week ending June 9, feeder cattle prices at the Texas auctions covered by the U.S. Department of Agriculture (USDA) Market News were mostly steady to $3 higher per hundredweight (cwt). The Texas direct feeder cattle trade was steady to $3 higher. The Oklahoma City auction was mostly steady. Fed cattle cash prices were nearly $1 higher compared to the previous week, while beef prices were lower with Select-grade offerings posting the most decline. Cotton prices pushed higher at the end of the week as a weaker dollar and supportive export sales offset improved prospects for the U.S. crop and ample world supplies. Corn and grain sorghum were higher amid concerns that hot, dry weather in the Midwest might hurt this year’s crop. Wheat prices followed other grains higher, but gains were limited by increasing harvest-time supplies of hard red winter wheat.  . . .

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