Texas Cash Market recap, Jan. 11
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.
As for futures markets, cotton, wheat, corn, and lumber were higher, but feeder cattle and fed cattle were lower. Almost the entire state recorded precipitation during the week, with the exception of the western end of the Trans-Pecos region. Rainfall totals in excess of two inches were reported over a broad area of Central, North, and East Texas. 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 Feb. 19.
Texas Cash Markets for the week ending Jan. 11:
•Feeder steers, $170.29/cwt
•Fed cattle, $126.74/cwt
•Slaughter lambs, $154/cwt
•Slaughter goats, $205/cwt
•Cabbage, $7.50/50 lbs
•Feeder cattle, $149.87/cwt
•Fed cattle, $130.60/cwt
•Lumber, $371.40/1000 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.