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Agriculture Today

Texas Cash Market recap, March 9




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March 20, 2013 | 3273 views | Post a comment

AUSTIN -- For the week ending March 9, feeder cattle price trends reported by Texas auctions varied from $5 lower per hundredweight (cwt) to $5 higher. Texas direct feeder cattle sales were mostly steady. The Oklahoma City National Stockyards were up sharply from last week’s weather-shortened sale, but mostly steady to $2 lower compared to the last full sale two weeks ago. Tight supplies continue to support the feeder cattle market, but negative feedlot margins are also pressuring prices. Fed cattle cash prices were unchanged from the prior week in spite of higher beef prices. Cotton prices were higher as Chinese purchases and projections for lower plantings this year continued to support the market. Wheat and corn were lower due to weak exports and improved moisture conditions in major U.S. growing areas.  . . .

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