Texas Cash Market recap, Nov. 24
AUSTIN -- For the week ending Nov. 24, Texas direct feeder cattle sales were steady to weak during the light holiday week. The Oklahoma City National Stockyards were steady on a light holiday-week sales volume. Feeder cattle prices continue to be pulled in both directions, with tight supplies supporting the market, but high grain prices, negative cattle feeding margins, and dry conditions in many areas applying downward pressure. Wholesale beef values were higher for Choice-grade offerings, but lower for Select beef. Texas feeder cattle auction price trend could not be established since many locations were closed for the Thanksgiving holiday. Cotton prices were lower while wheat, corn, and grain sorghum prices were higher.
As for futures markets, feeder cattle, fed cattle, wheat, and corn were higher, but cotton and lumber were lower. Rainfall was recorded over much of the eastern edge of the state as well as much of the southern border, however the majority of the state did not receive measurable rainfall.
Texas Cash Markets for the week ending Nov. 24:
•Feeder steers, $159.13/cwt
•Cabbage, $10.00/50 lbs
•Feeder cattle, $147.88/cwt
•Fed cattle, $128.95/cwt
•Lumber, $318.10/1000 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.