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Agriculture & Outdoors


Texas Cash Market recap, Oct. 13




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October 24, 2012 | 3,152 views | Post a comment

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.  . . .

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