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Agriculture Today

Texas Cash Market recap, Jan. 11




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January 23, 2013 | 3415 views | Post a comment

AUSTIN -- For the week ending Jan. 11, feeder cattle prices reported by Texas auctions were mostly steady to as much as $10 higher per hundredweight (cwt) compared to the previous sale. Texas direct feeder cattle sales were steady to $2 lower. The Oklahoma City National Stockyards were $2 to $10 higher. Shrinking numbers of available feeder cattle continue to support the market, and recent rains boosted grazing prospects. However, high grain prices and negative feedlot margins limited the increase. Fed cattle cash prices were more than $1 lower per cwt as increased numbers of finished cattle were offered for sale following the holiday lull. Wholesale Choice beef prices were near unchanged and Select-grade offerings were higher. Cotton prices ended the week lower after the U.S. Department of Agriculture (USDA) raised its global projected ending stocks estimate. Corn and grain sorghum prices were higher as USDA reported lower than expected December 1 stocks on hand and reduced its projected ending stocks estimate. Wheat was slightly higher for the week.  . . .

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