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. . . .
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