Texas Cash Market recap, Oct. 27
AUSTIN -- For the week ending Oct. 27, 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 $3 lower on fleshy, unweaned offerings. Texas direct (non-auction) feeder cattle sales were steady. The Oklahoma City National Stockyards were mostly $1 to $6 higher with heifer calves steady. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were near unchanged compared to the previous week as lower beef prices and concerns about beef demand offset the impact of smaller supplies of available cattle. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were slightly higher after Ukraine confirmed it will halt exports in mid-November and the International Grains Council reduced its global production estimate. However, large world supplies and weak export demand for U.S. wheat limited the gains. Corn prices were lower because of weak exports and lower crude oil prices.
As for futures markets, wheat and lumber were higher, but feeder cattle, fed cattle, cotton, and corn were lower. Scattered showers fell over the eastern two-thirds of the state last week with amounts generally less than one-half inch. Information from the weekly U.S. Department of Agriculture (USDA) National Agricultural Statistics Service crop progress report was not available this week as USDA headquarters offices in Washington, D.C. were closed due to Hurricane Sandy.
Texas Cash Markets for the week ending Oct. 27:
•Feeder steers, $158.82/cwt
•Fed cattle, $126.96/cwt
•Slaughter lambs, $141/cwt
•Slaughter goats, $175/cwt
•Feeder cattle, $145.32/cwt
•Fed cattle, $125.50/cwt
•Lumber, $308.60/1000 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.