Texas Cash Market recap, March 2
AUSTIN -- For the week ending March 2, feeder cattle prices reported by Texas auctions were mostly steady to $5 lower per hundredweight (cwt), though some locations saw prices as much as $7 higher, especially later in the week. Texas direct feeder cattle sales were steady to $2 lower. The Oklahoma City National Stockyards were sharply lower because of blizzard conditions in the area. Fed cattle cash prices were up $5 per cwt from the prior week after a winter storm on the U.S. Plains limited cattle supplies and pushed beef prices higher. Cotton prices were higher as strong exports and projections for lower plantings this year continued to support the market. Wheat and corn were higher on better-than-expected exports.
As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn, and lumber were higher. Parts of the Panhandle and Northern Low Plains recorded precipitation last week, much of it in the form of heavy snow. Little or no precipitation fell in the rest of the state. Statewide, soil moisture supplies remained mostly very short to adequate. Winter wheat was rated in mostly fair to poor condition. Recent precipitation has helped the crop, but more moisture will be needed soon. Spring field preparations are continuing statewide. Corn and grain sorghum are being planted in the South Texas, Upper Coast, and Blacklands regions, but some delays were noted in the Lower Valley as farmers waited for rain. Vegetable crops are progressing well with harvest underway for cabbage and other vegetable crops. On the Northern Plains, snow and high winds stressed cattle. Pastures were rated in mostly fair to poor condition with many needing additional moisture.
Texas Cash Markets for the week ending March 2:
•Feeder steers, $160.11/cwt
•Fed cattle, $127.94/cwt
•Slaughter lambs, $164/cwt
•Slaughter goats, $246/cwt
•Grain sorghum, $12.38/cwt
•Cabbage, $6.50/50 lbs
•Feeder cattle, $141.55/cwt
•Fed cattle, $129.95/cwt
•Lumber, $395.40/1000 bd ft.
The cash prices above are market averages for locations covered by the U.S. Department of Agriculture 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 Texas Department of Agriculture at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.