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Agriculture Today

Texas Cash Market recap, Jan. 19




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January 30, 2013 | 3277 views | Post a comment

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.  . . .

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