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Wednesday, Sep 17, 2014
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Agriculture Today

TDA market recap: Nov. 2




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November 13, 2013 | 2315 views | Post a comment

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.  . . .

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