Texas Cash Market recap, Aug. 25
AUSTIN -- For the week ending Aug. 25, 2012, feeder cattle price trends at Texas auctions ranged from $8 lower per hundredweight (cwt) to $10 higher. Texas direct feeder cattle sales were also mixed with a limited test on most classes. At the Oklahoma City National Stockyards, feeder cattle were $3 lower to $2 higher. Tight feeder supplies and prospects they will get even tighter this fall continue to support higher prices. However, variable quality, high grain prices and poor pasture conditions in many areas pulled some markets lower. The fed cattle cash trade was unchanged from the previous week, and wholesale beef prices were about $1 lower. Cotton prices were higher amid continued dry weather in U.S. growing areas and concerns that India might limit exports because of weak monsoon rains and lower production. Wheat prices increased early in the week in response to reports of a smaller Russian crop, but weakened later as beneficial rains fell in parts of the U.S. winter wheat growing area. Corn and grain sorghum prices were modestly higher as prospects for a smaller U.S. crop were partially offset by weak export demand. . . .
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