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Agriculture Today

Texas Cash Market recap, July 28




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August 8, 2012 | 3272 views | Post a comment

AUSTIN -- For the week ending July 28, feeder cattle prices at Texas auctions were generally steady to as much as $12 higher per hundredweight (cwt), though a few locations noted lower prices, especially on fleshy, unweaned calves. Texas direct feeder cattle sales and the Oklahoma City National Stockyards were steady to $3 lower. Tight supplies, higher futures markets and a dip in grain prices contributed to the higher prices, although negative cattle feeding margins limited the increase. The fed cattle cash trade was $1.33 higher per cwt and wholesale beef prices were flat for most of the week before declining on Friday. Cotton prices ended the week modestly higher amid concerns about hot, dry weather in West Texas and unfavorable growing conditions in India. Grain prices were lower through mid-week due to weak export demand and hopes for improved weather in the Corn Belt. Prices rebounded later as the hot, dry conditions in the Midwest continued and private forecasts called for lower production in the Corn Belt.  . . .

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