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Agriculture Today

Texas Cash Market recap, July 14


Texas Cash Market recap, July 14


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July 25, 2012
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AUSTIN -- For the week ending July 14, feeder cattle prices at Texas auctions were mostly $3 to $10 lower per hundredweight (cwt) compared to pre-July 4 holiday sales, with a few as much as $20 lower on calves. Texas feeder cattle sales directly to stocker operations and feedlots were $2 to $7 lower. At Oklahoma City National Stockyards, feeder cattle were $2 to $7 lower and calves were down $10 to $20. Higher grain prices, lower fed cattle, hot temperatures and poor pasture conditions all contributed to the decline. The fed cattle cash trade was more than $2 lower per cwt following a drop in wholesale beef prices. Cotton prices ended the week higher on optimism that demand will improve after China reported its economy grew more than expected during the previous quarter. Corn, grain sorghum, and wheat were again higher amid ongoing concerns about crop damage due to hot, dry weather in the Corn Belt.  . . .

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