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Agriculture Today

Texas Cash Market recap, Aug. 18




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August 29, 2012 | 3184 views | Post a comment

AUSTIN -- For the week ending Aug. 18, 2012, 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 $1 to $5 higher and calves were steady to $5 higher. Higher fed cattle, lower feed grains, and tightening supplies continue to support higher prices, although negative cattle feeding margins and poor pasture conditions in many areas limited the increase. The fed cattle cash trade was $1 higher per cwt and wholesale beef prices were $7 to $8 higher. Cotton prices were lower as large world supplies and rain in some U.S. growing areas more than offset concerns about dry conditions in India. Wheat prices were lower as large world supplies continue to pressure the market, but they made a partial recovery late in the week on forecasts for lower production in Russia and the Ukraine, and export purchases by Taiwan and South Korea. Corn and grain sorghum prices also fluctuated as weather concerns and strong demand from ethanol plants were offset by reports that the United States may import cheaper corn from Brazil.  . . .

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