You’ve been granted free access to this subscribers only article.
TDA market recap: Nov. 2
AUSTIN -- For the week ending Nov. 2, Texas fed cattle cash prices posted a slight increase to reach a new record high of $132.33 per hundredweight (cwt). Smaller supplies of market-ready cattle and higher beef prices continued to support the market. Feeder cattle prices reported by Texas auctions were mostly steady to $7 higher for much of the week, but turned mostly steady to $3 lower on Friday and Saturday. Texas direct feeder cattle sales were mostly steady. The same factors continue to support the market as in past weeks -- higher fed cattle, reduced feeder supplies and lower grain prices. However, lower feeder cattle futures and reduced buying interest at the current higher prices also pressured markets. Wholesale beef values were higher. Beef export sales for the three weeks ending Oct. 24 were up 71 percent from the previous three-week period, but remained about 12 percent behind where they were at this time last year.
Cotton prices were lower as the advancing harvest continues to put additional supplies of new-crop cotton on the market. Export sales were more than three times higher than in the previous three-week period, but shipments were down 29 percent. Wheat prices were lower due to continued favorable weather in the United States, a higher global production estimate and weak U.S. exports. Weekly export sales were down 38 percent from the previous period, and shipments were 40 percent lower. Corn and grain sorghum prices also declined as the advancing harvest continues to put more new-crop grain on the market. Ongoing reports of better than expected yields and speculation that the U.S. Department of Agriculture (USDA) will raise its production forecast also added to the pressure. Weekly corn export sales were up 65 percent from the previous three weeks and much higher than expected. Mexico was the largest buyer.
Futures markets were higher for lumber, but lower for feeder cattle, fed cattle, cotton, corn, and wheat. Most of the state recorded rainfall during the week, with the heaviest totals east of a line from Texarkana to San Antonio to Victoria. Many locations in that area received two or more inches of rain with some locally-heavy rainfall totals in excess of 10 inches.
Texas Cash Markets for the week ending Nov. 2:
•Feeder steers, $180.31/cwt
•Fed cattle, $132.33/cwt
•Slaughter lambs, $150/cwt
•Slaughter goats, $191/cwt
•Grain sorghum, $7.32/cwt
•Feeder cattle, $163.50/cwt
•Fed cattle, $132.07/cwt
•Corn, $4.27 /bu
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
Customs intercepts pest new to the United States (May 25, 2016)
Does wounded tree have a chance? (May 25, 2016)
Livestock Market Reports (May 25, 2016)
Mother Nature whips Wilson County crops (May 25, 2016)
Scrapie confirmed in Texas (May 25, 2016)
TDA Market Recap (May 25, 2016)
Texas Hay Report (May 25, 2016)
Beef cattle seven-year decline ends (May 18, 2016)
Educational video for water well owners (May 18, 2016)
Free Beef Quality Assurance training set for May 25 (May 18, 2016)
Fretwell wins Region 8 high school all around rookie saddle (May 18, 2016)
Grant to restore, enhance the monarch butterfly habitat (May 18, 2016)
Grass-fed beef conference (May 18, 2016)
Gun safety and barbecue in New Braunfels (May 18, 2016)
La Vernia Poultry Judging wins state, advances to nationals (May 18, 2016)
Lawn, landscape, rainwater program May 21 in Floresville (May 18, 2016)
Lesser prairie chicken off the list (May 18, 2016)
Livestock Market Reports (May 18, 2016)
Luling Foundation Field Day (May 18, 2016)
Protecting your tomatoes (May 18, 2016)
TDA Market Recap (May 18, 2016)
Texas Hay Report (May 18, 2016)
As El Nińo fades, expect warmer, drier weather says Texas A&M expert (May 11, 2016)
Floresville team wins second at state (May 11, 2016)
Livestock Market Reports (May 11, 2016)
Llamas, load up! (May 11, 2016)
TDA Market Recap (May 11, 2016)
Texas Hay Report (May 11, 2016)
Transplanting mountain laurels (May 11, 2016)
2016 La Vernia Junior Livestock & Poultry Show (May 4, 2016)
Beef, forage symposium May 10 (May 4, 2016)
Cattle raisers’ crime watch (May 4, 2016)
Corn acreage increases in Texas (May 4, 2016)
Help controlling the weeds (May 4, 2016)
Krueger leads the way at La Vernia stock show (May 4, 2016)
Land Heritage nomination deadline nears (May 4, 2016)
Livestock Market Reports (May 4, 2016)
TDA Market Recap (May 4, 2016)
Texas Hay Report (May 4, 2016)
May 2016 Gardening Calendar (May 1, 2016)