Texas Cash Market recap, Aug. 11
AUSTIN -- For the week ending Aug. 11, feeder cattle prices at Texas auctions were mostly steady to $5 higher per hundredweight (cwt), although a few locations were steady to $5 lower and a few were as much as $10 higher. Texas direct feeder cattle sales were $1 to $4 higher. At the Oklahoma City National Stockyards, feeder cattle were steady to $4 lower. Higher fed cattle, lower feed grains and tightening supplies contributed to the higher prices, although negative cattle feeding margins limited the increase. The fed cattle cash trade was more than $1 higher per cwt and wholesale beef prices were $6 to $7 higher. Cotton prices were unchanged for the week. Prices increased early amid ongoing concerns about unfavorable weather in West Texas and India, but fell on Friday after U.S. Department of Agriculture (USDA) reported higher than expected production and carryover supplies. Corn and grain sorghum also ended the week modestly lower after projections for lower demand offset a lower production forecast. Meanwhile, wheat was higher. . . .
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