Texas Cash Market recap, Jan. 19
AUSTIN -- For the week ending Jan. 19, feeder cattle prices reported by Texas auctions were $5 lower to $10 higher per hundredweight (cwt) compared to the previous sale. Texas direct feeder cattle sales were $2 to $4 lower. The Oklahoma City National Stockyards were steady to $5 lower. Heavier-weight cattle experienced the biggest declines as lower fed cattle prices, falling cattle futures, and higher grain prices pulled feedlot margins even lower. Fed cattle cash prices were more than $2 lower per cwt and wholesale beef prices were lower. Cargill’s announcement that it will idle its Plainview, cattle-processing plant was widely cited as a key reason for the decline in cattle prices. Cotton prices were higher following a strong weekly export sales report. Grain prices were higher as markets continued to adjust to the previous week’s bullish U.S. Department of Agriculture reports. Export sales were also stronger than expected, though there were lingering concerns that exports for the marketing year would not meet current projections.
As for futures markets, cotton, wheat and corn were higher, but feeder cattle, fed cattle, and lumber were lower. Less than one-half-inch of rain fell in parts of East Texas during the week as most of the state recorded little or no precipitation. Crop progress and condition information are not available since 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. 19:
•Feeder steers, $167.91/cwt
•Fed cattle, $124.51/cwt
•Slaughter lambs, $151/cwt
•Slaughter goats, $205/cwt
•Grain sorghum, $12.63/cwt
•Cabbage, $7.75/50 lbs
•Feeder cattle, $143.90/cwt
•Fed cattle, $124.95/cwt
•Lumber, $362.30/1000 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.