Texas Cash Market recap, March 9
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.
As for futures markets, cotton, and corn were higher, but feeder cattle, fed cattle, wheat, and lumber were lower. Much of the state recorded rainfall last week, with amounts of one-half inch or more in parts of the Panhandle and a rough triangle from Del Rio to Gainesville on the north and San Augustine to the east. This week’s crop progress and condition report from U.S. Department of Agriculture (USDA) National Agricultural Statistics Service was not available in time for this week’s recap.
Texas Cash Markets for the week ending March 9:
•Feeder steers, $170.92/cwt
•Fed cattle, $127.97/cwt
•Slaughter lambs, $162.50/cwt
•Slaughter goats, $235/cwt
•Grain sorghum, $12.29/cwt
•Cabbage, $6.75/50 lbs
•Pine Saw Logs, $196.74/1000 bd ft.
•Pine Pulpwood, $5.69/ton
•Feeder cattle, $138.97/cwt
•Fed cattle, $127.55/cwt
•Lumber, $390.00/1000 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.