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Agriculture Today

Texas Cash Market recap, April 20




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May 1, 2013 | 3420 views | Post a comment

AUSTIN -- For the week ending April 20, feeder cattle prices reported by Texas auctions were mostly steady to $7 lower per hundredweight (cwt). However, a few sales later in the week reported prices steady to $3 higher on at least a portion of their offerings. Prices on lighter-weight calves again showed the biggest declines. Texas direct feeder cattle sales were $2 to $7 lower and the Oklahoma City National Stockyards were $2 to $6 lower. Negative cattle feeding margins, weak beef prices, high grain prices and lower feeder cattle futures pulled feeder cattle prices lower, while tight supplies and improved pasture conditions in some areas still provided some support for the market. Fed cattle cash prices were $1 lower and wholesale beef values were slightly higher for Choice beef, but lower for Select-grade offerings. Beef export sales for the week came in well above the prior 4-week average, but cumulative sales for the year are down 6.4 percent from the same period a year ago.  . . .

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