You’ve been granted free access to this subscribers only article.
Texas Cash Market recap, May 25
AUSTIN -- For the week ending May 25, feeder cattle prices reported by Texas auctions ranged from $5 lower to $3 higher per hundredweight (cwt) compared to the previous week. A few locations noted prices as much as $6 higher on a portion of their offerings. Texas direct feeder cattle sales were steady to $1 lower and the Oklahoma City National Stockyards were steady to $5 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 $211.37 per cwt on May 23, before declining on May 24. Beef exports for the year are down 17 percent from this time last year.
Cotton prices were lower due to burdensome world supplies and weak economic news out of China. However, traders remained concerned about planting delays and very dry conditions in major Texas growing areas. Weekly cotton export sales up from the previous week and cumulative shipments for the year are running ahead of last year’s pace. Wheat prices were higher on the dry conditions in U.S. winter wheat areas and lower production forecasts for Australia and Ukraine. In addition, weekly wheat exports were higher than both the previous week and prior four-week average. Corn prices were higher as markets remain concerned about slow planting progress across the Midwest. Reports of a large corn sale to China and weekly exports that were higher than the previous week and the prior four-week average were also supportive.
As for futures markets, feeder cattle, fed cattle, wheat, and corn were higher, but cotton and lumber were lower. Almost the entire state received rainfall during the week, with totals of an inch or more common south and east of a line from Del Rio to Wichita Falls.
Texas Cash Markets for the week ending May 25:
•Feeder steers, $145.93/cwt
•Fed cattle, $123.94/cwt
•Slaughter lambs, $88.50/cwt
•Slaughter goats, $167/cwt
•Onions, $11.50/50 lbs
Futures markets: •Feeder cattle, $144.55/cwt
•Fed cattle, $120.57/cwt
•Lumber, $297.40/1000 bd ft.
The cash prices above are market averages for locations covered by the U.S. Department of Agriculture 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.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Beef Cattle Management seminar (August 26, 2015)
Cotton root rot and its symptoms (August 26, 2015)
Feral hogs, water workshop (August 26, 2015)
Get acquainted with 4-H event (August 26, 2015)
Harvey places in top 20 (August 26, 2015)
Hay & Forage Report (August 26, 2015)
Livestock Market Reports (August 26, 2015)
Mobile app for hunting regs (August 26, 2015)
Registration for cattle conference (August 26, 2015)
Survey deadline (August 26, 2015)
Turkey fed to improve Texas grasslands (August 26, 2015)
Wilson County 4-H Council, Booster meetings, Sept. 2 (August 26, 2015)
Anthrax confirmed in equine in Uvalde County (August 19, 2015)
Deer association: Environmental group deceives deer industry, wildlife community (August 19, 2015)
Don’t miss your shot! Apply for drawn hunts (August 19, 2015)
Feral hog management workshop is Sept. 4 (August 19, 2015)
Hay & Forage Report (August 19, 2015)
Livestock Market Reports (August 19, 2015)
Prospects bright for dove season (August 19, 2015)
Saving tomatoes from the Texas heat (August 19, 2015)
Siblings make rodeo memories (August 19, 2015)
TDA Market Report (August 19, 2015)
Chagas disease in South Central Texas (August 12, 2015)
Eastern equine encephalitis cases reported in Texas (August 12, 2015)
Hay & Forage Report (August 12, 2015)
Leaf-dropping is common (August 12, 2015)
Livestock Market Reports (August 12, 2015)
New, stronger El Nińo may bring another wet winter (August 12, 2015)
Pieniazek elected president of ag education leadership (August 12, 2015)
EPA ‘muddies’ Clean Water Act (August 5, 2015)
Hay & Forage Report (August 5, 2015)
It’s a ‘banner’ summer for Payton! (August 5, 2015)
Lantanas losing luster; mosquitoes a bother (August 5, 2015)
Livestock Market Reports (August 5, 2015)
Meuths receive Bronze Merit Award (August 5, 2015)
Shoot to benefit Don Newbury (August 5, 2015)
TDA Market Report (August 5, 2015)
August 2015 Gardening Calendar (August 1, 2015)