Texas Cash Market recap, Oct. 5
AUSTIN -- For the week ending Oct. 5, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt), with a few as much as $10 higher. Many of the cash prices usually covered by this recap are unavailable because of the partial federal government shutdown. Texas direct feeder cattle sales were unavailable, and the Oklahoma City National Stockyards were $3 to $6 higher. Buyers continue to discount bawling, unweaned offerings, but all classes are attracting attention thanks to tight cattle supplies and corn prices that are much lower than they were at this time last year.
The nearby corn futures contract is at its lowest level since August 2010 in anticipation of a record-large harvest this fall.
Fed cattle prices were unchanged from the previous week, according to the Texas Cattle Feeders Association. Cash prices and export data are not available for beef, cotton, grain sorghum, corn, or wheat.
Futures markets were higher for feeder cattle, cotton, and wheat, but lower for fed cattle, corn, and lumber. Much of the state east of a line from Del Rio to Vernon recorded rainfall during the week, with totals of one-half inch or more common in South Central Texas and along the Upper Coast.
The weekly U.S. Department of Agriculture (USDA) National Agricultural Statistics Service “Texas Crop Progress and Condition” report is not available, due to the partial government shutdown.
Texas Cash Markets for the week ending Oct. 5:
•Feeder steers, $175.14/cwt
•Fed cattle, $126/cwt*
•Feeder cattle, $164.45/cwt
•Fed cattle, $128.05/cwt
•Lumber, $336.80/1000 bd ft.
*Reported in the Texas Cattle Feeders Association daily volume and price summary.
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.