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Agriculture Today

Texas Cash Market recap, Nov. 10




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November 21, 2012 | 2684 views | Post a comment

AUSTIN -- For the week ending Nov. 10, feeder cattle price trends reported by Texas auctions ranged from $5 higher to $5 lower per hundredweight (cwt) with a few head as much as $15 lower. Texas direct feeder cattle sales were steady. The Oklahoma City National Stockyards were firm to $3 higher on feeder cattle, but $2 to $5 lower on calves. The feeder cattle situation remains unchanged with shrinking supplies offset by high grain prices and negative cattle feeding margins. Fed cattle cash prices were $1 lower after wholesale beef values declined. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were higher for the week amid concerns about dry conditions on the U.S. Plains, but declined somewhat on Friday after the U.S. Department of Agriculture (USDA) reported higher projected U.S. and world ending stocks. Corn cash prices were unchanged for the week, but grain sorghum was higher. Weak export demand for U.S. corn was offset by tight domestic supplies and concerns about unfavorable weather in South America.  . . .

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