Texas Cash Market recap, Aug. 4
AUSTIN -- For the week ending Aug. 4, feeder cattle prices at Texas auctions were steady to as much as $12 higher per hundredweight (cwt), although a few locations noted lower prices on part of their offerings. Texas direct feeder cattle sales were mostly $1 to $3 higher. At the Oklahoma City National Stockyards, feeder cattle were $2 to $4 higher and calves were $2 to $3 lower. Tight supplies and lower feed grains for much of the week contributed to the higher prices, although negative cattle feeding margins limited the increase. The fed cattle cash trade was $3.50 higher per cwt following several weeks of light marketings. Wholesale beef prices were higher. Cotton prices were higher amid ongoing concerns about hot, dry weather in West Texas and drier than normal conditions in India. Grain prices were lower for much of the week before turning higher on Friday due to renewed concerns about drought in the Midwest, a weaker dollar, and higher stock markets, metals and crude oil. The Texas Forest Service reported that during the May-June period, Texas pine saw log and pulp wood prices were higher than both the previous reporting period and a year ago. Hardwood saw logs were lower. An improved housing market and better overseas demand contributed to the increase in pine saw log prices. . . .
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