Texas Cash Market recap, Oct. 6
AUSTIN -- For the week ending Oct. 6, 2012, feeder cattle prices reported by Texas auctions ranged from $6 lower to $5 higher per hundredweight (cwt) early in the week, but steady to $5 higher later, with a few locations as much as $10 higher. Texas direct feeder cattle sales were weak to $4 lower. At the Oklahoma City National Stockyards, feeder cattle were $2 to $4 higher. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were $1 higher per cwt in response to lower Choice beef prices and smaller supplies of available cattle. Cotton prices were higher on smaller projected end-of-year global supplies and reports of higher-than-expected abandonment on the Texas Plains. Wheat prices were lower for the week as beneficial rains fell in U.S. winter wheat areas and export buyers bypassed U.S. wheat for cheaper South American and European supplies. Corn prices declined because of weak export demand, increasing harvest-time supplies and private forecasts of higher production.
As for futures markets, feeder cattle, fed cattle, and cotton were higher, but wheat, corn, and lumber were lower. Scattered showers fell statewide during the week with totals generally less than one-half inch. Crop progress and condition information was not available for this report as the U.S. Department of Agriculture office that provides the data was closed for the Columbus Day holiday.
Texas Cash Markets for the week ending Oct. 6:
•Feeder steers, $154.66/cwt
•Fed cattle, $123.95/cwt
•Slaughter lambs, $142/cwt
•Slaughter goats, $170/cwt
•Pine Saw Logs, $194.59/
thousand board feet*
•Pine Pulpwood, $6.42/ton*
*Texas A&M Forest service, “Texas Timber Price Trends.”
•Feeder cattle, $144.82/cwt
•Fed cattle, $123.05/cwt
The cash prices above are market averages for locations covered by the USDA Market News program and do not reflect any particular sale at any specific location.
Feeder cattle prices are for 500-600 pound medium and large No. 1 steers at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week.
For more information, contact TDA at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.