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Agriculture Today


Texas Cash Market recap, Dec. 15




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December 26, 2012 | 2,423 views | Post a comment

AUSTIN -- For the week ending Dec. 15, feeder cattle prices reported by Texas auctions were mostly steady to $6 higher per hundredweight (cwt), with a few to $10 lower on fleshy unweaned calves and some as much as $10 higher. Texas direct feeder cattle sales were steady to $3 higher. The Oklahoma City National Stockyards were steady to $2 higher on feeder cattle, but steady to $2 lower on calves. The feeder cattle situation has not changed much over the past several weeks, though demand did seem to pick up late in the week. Overall, tight feeder supplies and prospects that they will get even tighter are trying to push prices higher while high grain prices and the dry conditions in many areas are trying to pull them lower. Fed cattle cash prices were 50 cents higher per cwt in moderate trade. Beef prices were higher. Cotton was higher following a supportive U.S. Department of Agriculture (USDA) supply and demand report, and another week of strong export sales. Wheat, corn, and grain sorghum prices were lower on continued weak export demand for U.S. grains. However, domestic grain supplies remain tight and prices are still well above where they were at this time last year.

As for futures markets, feeder cattle, fed cattle, cotton, and lumber were higher, but wheat and corn were lower. Parts of East Texas recorded an inch or more of rain during the week, while little or no precipitation fell in other areas of the state. 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. This is also the last weekly market recap until after the first of the year.

Texas Cash Markets for the week ending Dec. 15:
•Feeder steers, $156.75/cwt
•Fed cattle, $124.43/cwt
•Slaughter lambs, $126/cwt
•Slaughter goats, $187/cwt
•Cotton, 71.75˘/lb
•Grain sorghum,
$12.58/cwt
•Wheat, $8.24/bu
•Corn, $7.68/bu
•Oranges, $11.80/carton
•Grapefruit, $16.85/carton
•Cabbage, $6.40/50 lbs
•Pine Saw Logs,
$188.46/MBF
•Pine Pulpwood, $5.80/ton

Futures markets:
•Feeder cattle, $153.07/cwt
•Fed cattle, $126.90/cwt
•Cotton, 75.09˘/lb
•Wheat, $8.52/bu
•Corn, $7.19/bu
•Lumber, $355/1000 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.

For more information, contact TDA at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.
 

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