You’ve been granted free access to this subscribers only article.
Texas Cash Market recap, Aug. 24
AUSTIN -- For the week ending Aug. 24, feeder cattle prices reported by Texas auctions were mostly steady to $8 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $2 higher, and the Oklahoma City National Stockyards were steady to $3 higher. Tight supplies, lower grain prices than at this time last year, and improved fed cattle prices continued to support the market. Fed cattle cash prices were steady. Wholesale beef prices were higher for Choice, but lower for Select-grade offerings. Weekly beef export sales were up 26 percent from the previous week and 34 percent higher than the prior four-week average, but shipments were lower.
Cotton prices were lower mostly due to speculative selling of the underlying futures contract. U.S. production will be lower this year; however, increased production in India, large world stocks and uncertainty about Chinese cotton policies also pressured the market. Weekly cotton export sales were more than double both the previous week and the prior four-week average. Shipments were down 14 percent from the previous week, but up 52 percent from the average. Corn prices were higher on forecasts for warmer, drier weather in the Corn Belt. Corn export sales were higher than in the previous week, but down 31 percent from the prior four-week average and well below the weekly total needed to meet U.S. Department of Agriculture (USDA) projections for the marketing year. Wheat prices declined due to larger production forecasts for Australia and Canada and continued strong export competition from other suppliers. Wheat export sales for the week were up one percent from the previous week and higher than the weekly average needed to meet USDA projections for the marketing year, but were down 20 percent from the prior four-week average.
Futures markets were higher for feeder cattle and corn, but lower for fed cattle, cotton, wheat, and lumber. Most of the state recorded little or no rainfall during the week, though one-half inch or more of rain fell in scattered locations statewide. The heaviest amounts were reported in South Texas and along the coast.
Texas Cash Markets for the week ending Aug. 24:
•Feeder steers, $172.17/cwt
•Fed cattle, $123/cwt
•Slaughter lambs, $113/cwt
•Slaughter goats, $165/cwt
Futures markets: •Feeder cattle, $155/cwt
•Fed cattle, $123.10/cwt
•Lumber, $313.50/1000 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.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Crow is 15th in the nation (July 22, 2015)
Have you seen a Texas horned lizard? (July 22, 2015)
Hay & Forage Report (July 22, 2015)
Landscaping picks (July 22, 2015)
Livestock Market Reports (July 22, 2015)
Offices issue receipts (July 22, 2015)
Recent rains — fewer grasshoppers! (July 22, 2015)
Stallman announces departure in January (July 22, 2015)
TDA Market Report (July 22, 2015)
Benefits of the Chinese pistache (July 15, 2015)
Cattle market outlook, trends short course (July 15, 2015)
Conservation assistance online for landowners, users (July 15, 2015)
Crouch Memorial Bull Riding is July 25 (July 15, 2015)
Hay & Forage Report (July 15, 2015)
Livestock Market Reports (July 15, 2015)
Mischief-maker transforms into equine world champion (July 15, 2015)
TDA Market (July 15, 2015)
Wardens investigate alligator attack (July 15, 2015)
Ag-Pro continues John Deere tradition (July 8, 2015)
Cattlemen, Floresville FFA unite (July 8, 2015)
Hay & Forage Report (July 8, 2015)
Livestock Market Reports (July 8, 2015)
Locals attend conference (July 8, 2015)
Much of peach crop excellent quality, quantity (July 8, 2015)
Nomination period open for farm committee (July 8, 2015)
TDA Market Report (July 8, 2015)
Things farmers do when it rains (July 8, 2015)
Two-part water conservation landscaping workshop in SA (July 8, 2015)
U.S. cattle herd safety threatened by Brazilian beef importation? (July 8, 2015)
West Nile virus vaccine in horses (July 8, 2015)
Will new driveway affect live oak? (July 8, 2015)
Hay & Forage Report (July 1, 2015)
July 2015 Gardening Calendar (July 1, 2015)
Livestock Market Reports (July 1, 2015)
Native anaqua is a tasty treat for wildlife (July 1, 2015)
TDA Market Report (July 1, 2015)
Texas railway raises concerns on eminent domain (July 1, 2015)
Third time's a charm for Buck Taylor roping (July 1, 2015)