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Agriculture Today

Texas Cash Market recap, May 18




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May 29, 2013 | 2953 views | Post a comment

AUSTIN -- For the week ending May 18, feeder cattle prices reported by Texas auctions ranged from $6 lower to $5 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were steady to $3 lower. The Oklahoma City National Stockyards were mostly steady to $2 higher, except steers less than 800 pounds were steady to $2 lower. Negative cattle feeding margins and lower feeder cattle futures continued to pressure the market. However, tight supplies and improved pasture conditions in some areas were also supportive. Fed cattle cash prices were $1 lower. Choice wholesale beef prices hit a new record-high of $209.51 per cwt on May 17. Beef exports for the year are nearly 12 percent behind last year’s pace.  . . .

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