Texas Cash Market recap, April 13
AUSTIN -- For the week ending April 13, feeder cattle price trends reported by Texas auctions varied from $6 lower to $4 higher per hundredweight (cwt). Several indicated that the biggest declines were on lighter-weight calves. Texas direct feeder cattle sales were $1 to $4 lower and the Oklahoma City National Stockyards were steady to $3 lower on feeders, but steady to $2 higher on stockers. Tight feeder supplies continue to support the market and recent rains have boosted demand for stocker cattle to be put back out on pasture. However, higher grain prices and continued negative cattle feeding margins are also putting downward pressure on prices. Fed cattle cash prices were $1 lower and wholesale beef values were lower. Beef export sales for the week came in well below the prior 4-week average, with cumulative sales for the year down 5.5 percent from the same period a year ago. Cotton prices declined after weekly export sales were on the low end of expectations. However, cumulative sales and shipments for the marketing year remain ahead of last year’s pace and there were reassurances from China that it intends to keep importing cotton. Wheat prices fell at mid-week after U.S. Department of Agriculture’s (USDA) supply and demand report showed higher than expected ending wheat stocks, but recovered later on reports of freeze damage in Texas, Oklahoma, and Kansas. Corn prices were higher after projected ending stocks came in on the low end of expectations. Concerns about planting delays in the Corn Belt added to the increase, though much of the area remains in drought and benefited from recent rains.
As for futures markets, wheat and corn were higher, but feeder cattle, fed cattle, cotton, and lumber were lower. Much of the state north and east of a line from McAllen to Lubbock recorded rainfall during the week, but amounts of one-half inch or more were mostly limited to the Upper Coast, East, and North Central Texas.
Texas Cash Markets for the week ending April 13:
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.
•Feeder steers, $166.33/cwt
•Fed cattle, $127/cwt
•Slaughter lambs, $130/cwt
•Slaughter goats, $213/cwt
•Cabbage, $6.50/50 lbs
•Onions, $12.00/40 lbs
•Feeder cattle, $137.92/cwt
•Fed cattle, $125.85/cwt
•Lumber, $371.40/1000 bd ft.