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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.
As for futures markets, cotton, wheat, corn, and lumber were higher, but feeder cattle and fed cattle were lower. More than one-half inch of rain fell in parts of East Texas, but most of the state received little or no rainfall during the week. Crop progress and condition information are not available as the weekly USDA National Agricultural Statistics Service crop progress report has been suspended for the season. It is scheduled to resume on Monday, Dec. 31.
Texas Cash Markets for the week ending Dec. 1:
•Feeder steers, $161.05/cwt
•Fed cattle, $126.80/cwt
•Slaughter lambs, $126/cwt
•Slaughter goats, $196/cwt
•Cabbage, $9.75/50 lbs
•Feeder cattle, $145.62/cwt
•Fed cattle, $126.72/cwt
•Lumber, $340.10/1000 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.
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