You’ve been granted free access to this subscribers only article.
Texas Cash Market recap, Oct. 13
AUSTIN -- For the week ending Oct. 13, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to a week ago, with a few as much as $10 higher and some to $5 lower. The heaviest discounts were on fleshy, unweaned calves. Texas direct feeder cattle sales were $2 to $3 higher. At the Oklahoma City National Stockyards, feeder cattle were mostly steady to $3 higher, with steer calves as much as $12 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 $1.40 higher per cwt in response to higher beef prices and smaller supplies of available cattle. Cotton prices were lower as large world supplies continue to weigh on the market. Wheat prices were higher after U.S. Department of Agriculture (USDA) projections for end-of-year stocks came in lower than expected, but gains were moderated by weak export demand for U.S. wheat. Corn prices increased after USDA lowered its corn production and projected carryover estimates.
As for futures markets, fed cattle, cotton, wheat, corn, and lumber were higher, but feeder cattle were lower. Scattered showers fell statewide during the week with a half-inch or more of rain reported in parts of Northeast Texas, Central Texas, the Trans-Pecos, and the Panhandle. According to the weekly USDA National Agricultural Statistics Service crop progress report, the condition index for peanuts declined last week, but remained unchanged for corn, cotton, rice, grain sorghum, and soybeans. Cotton harvest was 24 percent complete, slightly ahead of the 23 percent average for this date. Bolls have opened on 88 percent of the acreage, also ahead of normal. Corn was 88 percent harvested, higher than the 84 percent average, while grain sorghum harvest was 64 percent complete, well behind the normal 75 percent. Winter wheat planting advanced to 67 percent complete compared to the normal 65 percent, and 43 percent of the acreage has emerged. Pasture conditions improved modestly with 24 percent of the acreage rated in good to excellent condition compared to 23 percent last week. The area rated poor to very poor declined from 46 to 42 percent and 34 percent was rated in fair condition compared to 31 percent a week ago.
Texas Cash Markets for the week ending Oct. 13:
•Feeder steers, $157.09/cwt
•Fed cattle, $125.41/cwt
•Slaughter goats, $164/cwt
Futures markets: •Feeder cattle, $143.10/cwt
•Fed cattle, $123.90/cwt
•Lumber, $284.70/1000 bd ft.
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.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
County committee nomination period begins (June 22, 2016)
Hartmann takes the steer by the horns to win state championship (June 22, 2016)
La Vernia FFA wraps up school year with honors, scholarships (June 22, 2016)
Livestock Market Reports (June 22, 2016)
Root rot knocks out roses (June 22, 2016)
TDA Market Recap (June 22, 2016)
Texas Hay Report (June 22, 2016)
A student’s ag-related journey (June 15, 2016)
Family Land Heritage news (June 15, 2016)
Five dirty truths on agriculture (June 15, 2016)
Horseherb galloping through yards (June 15, 2016)
Kristin Storey: South Texas queen to compete for national title (June 15, 2016)
Livestock Market Reports (June 15, 2016)
Miller announces assistance for farmers devastated by floods (June 15, 2016)
No “rain, rain, go away” as precipitation persists (June 15, 2016)
Schwartz takes lead as Texas state veterinarian (June 15, 2016)
TDA Market Recap (June 15, 2016)
Texas Hay Report (June 15, 2016)
Texas Rural Leadership Program (June 15, 2016)
It’s almost rodeo time in Stockdale (June 8, 2016)
Livestock Market Reports (June 8, 2016)
Save seed pods for next fall (June 8, 2016)
TDA Market Recap (June 8, 2016)
Texas Hay Report (June 8, 2016)
Big Time Texas Hunts entries now on sale (June 1, 2016)
Burbridge leads the way in Buck Taylor roping event (June 1, 2016)
Farm Bureau solicits AgLead, FarmLead participants (June 1, 2016)
June 2016 Gardening Calendar (June 1, 2016)
Livestock Market Reports (June 1, 2016)
Save squash from vine borers (June 1, 2016)
State Farm Bureau testifies on agricultural use valuation (June 1, 2016)
TDA Market Recap (June 1, 2016)
Texas Hay Report (June 1, 2016)