Texas Cash Market recap, Oct. 20
AUSTIN -- For the week ending Oct. 20, 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. Several locations noted good demand, especially for long-weaned feeders and steer calves. Texas direct feeder cattle sales and the Oklahoma City National Stockyards were steady to $2 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 more than $2 higher per cwt in response to higher beef prices and smaller supplies of available cattle. Cotton prices were higher primarily due to a current shortage of cotton meeting the requirements for futures market deliveries. Wheat prices were higher amid concerns about slow emergence, improved weekly U.S. exports and reports that Ukraine might halt exports in mid-November. Corn prices followed wheat and soybeans higher, but gains were limited by sluggish exports and reports of additional corn imports from South America. . . .
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