Texas Cash Market recap, Dec. 1
AUSTIN -- For the week ending Dec. 1, feeder cattle price trends reported by Texas auctions were $6 lower to $5 higher per hundredweight (cwt), with a few to $9 higher. Texas direct feeder cattle sales were firm to $3 higher. The Oklahoma City National Stockyards were $1 to $5 higher on feeder cattle and $4 to $10 higher on calves. Feeder cattle price trends remain uneven depending on local conditions, quality of the offerings and how well they fit buyer needs. Fed cattle cash prices were more than $1 lower per cwt in light trade. Wholesale beef values were lower for Choice-grade offerings and near-unchanged for Select beef. Cotton prices were higher following a supportive U.S. Department of Agriculture (USDA) weekly export report. Wheat prices were higher due to declining U.S. crop conditions and excessive rainfall in Argentina and Australia that is delaying their harvests. Corn prices were modestly higher in spite of weak export sales and low water levels in the Mississippi River that might impede barge traffic out of the Midwest. . . .
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