Texas Cash Market recap, April 27
AUSTIN -- For the week ending April 27, feeder cattle prices reported by Texas auctions were mostly steady to $8 lower per hundredweight (cwt) early in the week, but were mostly steady to $8 higher later. Texas direct feeder cattle sales were unevenly steady on steers and $1 to $2 lower on heifers. The Oklahoma City National Stockyards were steady to $3 higher. Higher fed cattle values, lower feed grain prices, and improved pasture conditions in some areas boosted the feeder cattle market, but ongoing negative cattle feeding margins limited the increase. Fed cattle cash prices were $2 higher and wholesale beef values were $1 to $2 higher. Weekly beef export sales were higher than the prior four-week average, with cumulative sales for the year down 6 percent from a year ago.
Cotton prices were lower because of weaker economic conditions in China, the world’s top cotton importer, and speculation that freeze-damaged wheat on the Texas Plains may be replanted to cotton. Weekly export sales were up from both the previous week and the prior four-week average, but shipments declined. Wheat prices were higher on concerns about additional freeze damage to the winter wheat crop. Wheat exports were much lower than the previous week and the prior four-week average and well below the weekly average needed to meet U.S. Department of Agriculture (USDA) marketing year projections. Corn prices declined on forecasts for better planting weather in the Midwest. Corn exports came in higher than the average needed to meet marketing year projections.
As for futures markets, feeder cattle, fed cattle, and wheat were higher, but cotton, corn, and lumber were lower. Much of the state south of I-10 recorded one-half inch or more of rainfall during the week, with the heaviest amounts falling southwest of Houston.
Texas Cash Markets for the week ending April 27:
•Feeder steers, $157.76/cwt
•Fed cattle, $127.79/cwt
•Slaughter lambs, $120/cwt
•Slaughter goats, $194/cwt
•Grain sorghum, $11.18/cwt •Wheat, $7.27/bu
•Onions, $11/40 lbs.
•Pine Saw Logs,
•Pine Pulpwood, $5.77/ton
•Feeder cattle, $141.80/cwt
•Fed cattle, $127.85/cwt
•Lumber, $353/MBF 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 the Texas Department of Agriculture at 1-800-835-5832 or visit the website, http://www.TexasAgriculture.gov.