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Agriculture Today

Texas Cash Market recap, June 30


Texas Cash Market recap, June 30


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July 11, 2012
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AUSTIN -- For the week ending June 30, feeder cattle price trends at Texas auctions were uneven, from $8 lower per hundredweight (cwt) to $3 higher. Texas direct feeder cattle prices were down $8 to $10 compared to two weeks ago. Oklahoma City was $3 to $4 lower on feeder cattle and steady to $3 lower on calves. Steady to lower fed cattle and beef markets, dry pastures, early drought-related sales in some areas and variable quality were all factors impacting markets last week. The fed cattle cash trade was mostly inactive for the week with only 482 head of confirmed cash sales at prices unchanged from a week ago. Cotton prices were higher due to concerns about hot, dry weather in Texas and other sections of the Cotton Belt. Corn and grain sorghum were higher amid ongoing concerns that hot, dry weather in parts of the Corn Belt will damage the crop. Wheat prices followed corn higher with added worries about dry weather and lower production forecasts for parts of Europe.  . . .

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