AUSTIN -- For the week ending Nov. 3, 2012, feeder cattle price trends reported by Texas auctions ranged from $4 lower to $5 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $1 lower. The Oklahoma City National Stockyards were steady to $3 lower. The feeder cattle situation remains unchanged with shrinking supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were near unchanged as lower beef prices, concerns about beef demand and higher carcass weights again offset the impact of smaller cattle inventories. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were higher due to dry conditions on the Plains and estimates of lower production in Russia. Corn and grain sorghum prices were slightly higher on reports of unfavorable weather in South American. . . .
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