Texas Cash Market recap, Feb. 9
AUSTIN -- For the week ending Feb. 9, feeder cattle prices reported by Texas auctions ranged from $5 lower to $9 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $3 higher, and the Oklahoma City National Stockyards were mostly steady to $3 lower on feeder cattle, but steady to $3 higher on calves. The feeder cattle situation has not changed much in the past several weeks. Tight supplies continue to support the market, but high feed prices and negative feedlot margins have limited gains. Fed cattle cash prices were unchanged from a week earlier. Wholesale Choice beef prices were lower, but Select-grade offerings were higher. Cotton prices were slightly lower for the week following a decline in exports. Wheat and corn prices were also lower due to a stronger dollar and continued weak exports.
As for futures markets, lumber was higher, but fed cattle, feeder cattle, cotton, wheat, and corn were lower. Rains fell over much of the state roughly east of a line from Del Rio to Wichita Falls and in parts of the eastern Panhandle. Totals of one-half inch or more were common in South-Central and East Texas. Crop progress and condition information are not available as the weekly U.S. Department of Agriculture (USDA) National Agricultural Statistics Service crop progress report has been suspended for the season. It is scheduled to resume next week.
Texas Cash Markets for the week ending Feb. 9:
•Feeder steers, $168.01/cwt
•Fed cattle, $125/cwt
•Slaughter lambs, $154/cwt
•Slaughter goats, $225/cwt
•Grain sorghum, $12.21/cwt
•Cabbage, $6.25/50 lbs.
•Feeder cattle, $145/cwt
•Fed cattle, $126.45/cwt
•Lumber, $387.80/ 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.