You’ve been granted free access to this subscribers only article.
Texas Cash Market recap, June 23
AUSTIN -- For the week ending June 23, feeder cattle price trends at Texas auctions were mostly steady to $7 lower per hundredweight (cwt), although a few locations also noted prices as much as $5 higher on a portion of their offerings. Lower fed cattle and beef markets, dry pastures, and variable quality offset smaller supplies. A Texas direct feeder cattle trend was not available due to light trade volumes as sellers passed up the lower bids in hopes of a recovery. The Oklahoma City auction was $1 to $5 lower. Fed cattle cash prices were down $3 in very light trade as the market followed beef values lower, leaving many sellers unwilling to accept the lower bids. Cotton prices were lower due to a mixed export sales report, a stronger dollar, and weaker outside markets, although declines were limited by concerns about hot, dry weather in Texas, rumors of large purchases by China, and a delayed harvest in Pakistan. Corn and grain sorghum were higher due to concerns that hot, dry weather in parts of the Corn Belt will damage the crop, although gains were limited by weak exports and poor ethanol margins. Wheat prices were higher on weather concerns in Europe and a lower production forecast for Russia.
As for futures markets, feeder cattle, fed cattle, wheat, corn, and lumber were higher while cotton was lower. Southeast Texas, coastal areas, west-central Texas, and parts of the northern Panhandle recorded a half inch of rain or more while little or no rain fell in other areas of the state. The weekly U.S. Department of Agriculture National Agricultural Statistics Service crop progress and condition report showed that cotton planting is nearing completion, with 22 percent of the acreage squaring, and 13 percent setting bolls, both near normal for this date. Cotton condition was rated mostly fair to good. Corn was rated in mostly good to fair condition with 59 percent of the crop silking, slightly ahead of the average pace. Grain sorghum planting progress was slightly behind normal at 91 percent complete, but 68 percent of the crop was headed, well ahead of normal. The crop was reported in mostly good to fair condition. The state’s wheat crop was 84 percent harvested, much above the 63 percent average for this date. The crop was rated in mostly fair to good condition. Pastures remained in mostly good to poor condition and need rain in many areas.
Texas Cash Markets for the week ending June 23: 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)
Scrapie confirmed in Texas (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)