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Agriculture & Outdoors


Texas Cash Market recap, May 4




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May 15, 2013 | 4,245 views | Post a comment

AUSTIN -- For the week ending May 4, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt), with a few as much as $8 higher, but some $1 to $3 lower on at least a portion of their offerings. Texas direct feeder cattle sales were firm to $3 higher and the Oklahoma City National Stockyards were steady to $2 higher. Tight supplies, improving pasture conditions in some areas, higher beef markets and periodic increases in feeder cattle futures have supported feeder cattle auctions. However, those gains were also limited by stagnant fed cattle markets and negative cattle feeding margins. Fed cattle cash prices were unchanged at $128 per cwt. Choice wholesale beef prices hit a record-high $201.68 on Friday and were up 4.6 percent for the week. Weekly beef export sales were well above the prior four-week average, with cumulative sales still down six percent from a year ago.  . . .

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