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Agriculture Today

Texas Cash Market recap, Feb. 16




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February 27, 2013 | 3462 views | Post a comment

AUSTIN --For the week ending Feb. 16, feeder cattle prices reported by Texas auctions were mostly steady to $8 lower per hundredweight (cwt), though a few locations noted higher prices on a portion of their offerings. The Oklahoma City National Stockyards were $2 to $4 lower on feeder cattle and steady to $2 lower on calves. Fed cattle cash prices were down $2 from a week earlier. Choice beef prices were lower, but select-grade offerings were higher. In spite of continued tight cattle supplies, stagnant to lower beef prices have deepened negative beef processing margins, which has caused fed cattle prices to drop. That has, in turn, pulled feeder cattle prices lower. Cotton prices were lower in spite of favorable exports and expectations for lower plantings this year. Wheat declined because of favorable weather in South America and rains in some U.S. winter wheat areas. Corn was lower due to a stronger dollar, rains in the eastern Corn Belt and continued weak exports.  . . .

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