Texas Cash Market recap, Dec. 15
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. . . .
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