Texas Cash Market recap, Feb. 2
AUSTIN -- For the week ending Feb. 2, feeder cattle prices reported by Texas auctions were mostly steady to $8 higher, though some were as much as $7 lower and a few were $10 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were firm to $3 higher and the Oklahoma City National Stockyards were mostly steady to $4 higher. Fed cattle cash prices were $3 higher per cwt, but wholesale beef prices were lower. Tight supplies, rain in some areas, a supportive U.S. Department of Agriculture (USDA) Cattle on Feed report and news that Japan will ease its restrictions on U.S. beef imports helped boost cattle markets. Cotton prices were again higher due to strong export sales and predictions of sharply lower U.S. cotton plantings in 2013. Wheat prices were lower due to weak exports and rain in parts of the U.S. winter wheat area. Corn prices were higher on tight domestic supplies. Export sales were weak, but higher than expected.
As for futures markets, feeder cattle, fed cattle, cotton, corn, and lumber were higher, but wheat was lower. Rains fell over much of the area north and east of a line from Victoria to Seminole, but totals were generally less than one-half inch. 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 Feb. 2:
•Feeder steers, $167.49/cwt
•Fed cattle, $125/cwt
•Slaughter lambs, $149.50/cwt
•Slaughter goats, $204/cwt
•Grain sorghum, $12.74/cwt
•Cabbage, $6.25/50 lbs
•Feeder cattle, $149.20/cwt
•Fed cattle, $127.10/cwt
•Lumber, $362.70/1000 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.