You’ve been granted free access to this subscribers only article.
Texas Cash Market recap, June 16
AUSTIN -- For the week ending June 16, feeder cattle price trends at Texas auctions were mixed, ranging from $6 lower to $6 higher per hundredweight (cwt). Lower cattle futures, dry pastures, variable quality, and lower prices for fed cattle offset the seasonally smaller supplies and the impacts of a smaller cow herd. The Texas direct feeder cattle trade was steady to $2 higher. The Oklahoma City auction was mostly steady on feeder cattle and steady to $3 lower on calves. Fed cattle cash prices were $3 lower, while beef values were mixed, with Choice beef prices higher and Select-grade offerings lower. Cotton prices were higher following a favorable weekly export sales report and supportive outside markets, including a weaker dollar, higher crude oil and higher stock markets. Corn and grain sorghum were lower due to forecasts for more favorable growing conditions in the Midwest, weak ethanol margins and speculation that corn acreage might be higher than current the U.S. Department of Agriculture (USDA) projections. Wheat prices followed other grains lower as the advancing winter wheat harvest added to supplies, though stronger export sales helped limit losses.
As for futures markets, cotton was higher while feeder cattle, fed cattle, wheat, corn, and lumber were lower. Most of the state except southwest Texas recorded rainfall during the week, with amounts in excess of two inches in parts of East Texas, the Edwards Plateau, West Texas, and the Panhandle. The weekly USDA National Agricultural Statistics Service crop progress and condition report showed corn planting has been completed and 60 percent of the acreage is silking, ahead of the 53 percent average for this date. Condition was rated mostly good to fair. Grain sorghum was 93 percent planted, 60 percent headed and 14 percent mature, all ahead of normal, with the crop in mostly good to fair condition. The state’s wheat crop was 74 percent harvested, much above the 46 percent average for this date. The crop was rated in mostly good to poor condition. Cotton planting was ahead of normal at 97 percent complete, and 15 percent of the crop is squaring. The state’s cotton acreage was rated in mostly fair to good condition. Pastures continued to improve slowly in areas that received rain and remain in mostly good to poor condition statewide.
Texas Cash Markets for the week ending June 16: see attached
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.
For more information, contact TDA at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Customs intercepts pest new to the United States (May 25, 2016)
Does wounded tree have a chance? (May 25, 2016)
Livestock Market Reports (May 25, 2016)
Mother Nature whips Wilson County crops (May 25, 2016)
Scrapie confirmed in Texas (May 25, 2016)
TDA Market Recap (May 25, 2016)
Texas Hay Report (May 25, 2016)
Beef cattle seven-year decline ends (May 18, 2016)
Educational video for water well owners (May 18, 2016)
Free Beef Quality Assurance training set for May 25 (May 18, 2016)
Fretwell wins Region 8 high school all around rookie saddle (May 18, 2016)
Grant to restore, enhance the monarch butterfly habitat (May 18, 2016)
Grass-fed beef conference (May 18, 2016)
Gun safety and barbecue in New Braunfels (May 18, 2016)
La Vernia Poultry Judging wins state, advances to nationals (May 18, 2016)
Lawn, landscape, rainwater program May 21 in Floresville (May 18, 2016)
Lesser prairie chicken off the list (May 18, 2016)
Livestock Market Reports (May 18, 2016)
Luling Foundation Field Day (May 18, 2016)
Protecting your tomatoes (May 18, 2016)
TDA Market Recap (May 18, 2016)
Texas Hay Report (May 18, 2016)
As El Nińo fades, expect warmer, drier weather says Texas A&M expert (May 11, 2016)
Floresville team wins second at state (May 11, 2016)
Livestock Market Reports (May 11, 2016)
Llamas, load up! (May 11, 2016)
TDA Market Recap (May 11, 2016)
Texas Hay Report (May 11, 2016)
Transplanting mountain laurels (May 11, 2016)
2016 La Vernia Junior Livestock & Poultry Show (May 4, 2016)
Beef, forage symposium May 10 (May 4, 2016)
Cattle raisers’ crime watch (May 4, 2016)
Corn acreage increases in Texas (May 4, 2016)
Help controlling the weeds (May 4, 2016)
Krueger leads the way at La Vernia stock show (May 4, 2016)
Land Heritage nomination deadline nears (May 4, 2016)
Livestock Market Reports (May 4, 2016)
TDA Market Recap (May 4, 2016)
Texas Hay Report (May 4, 2016)
May 2016 Gardening Calendar (May 1, 2016)