TDA market recap: Nov. 30
AUSTIN -- For the week ending Nov. 30, a Texas feeder cattle auction trend is not available as most reporting locations were closed for the Thanksgiving holiday. Texas direct feeder cattle sales were mostly steady. Fed cattle cash prices were $1 higher per hundredweight (cwt), with sales of only about 600 head of cattle confirmed by U.S. Department of Agriculture (USDA). Wholesale beef values were higher. Weekly beef export sales were down 43 percent from the previous week, but shipments were 13 percent higher. The primary destinations were South Korea, Mexico, and Japan.
Cotton prices were higher. Weekly export sales were 13 percent lower than the prior week; however, shipments were 35 percent higher. China, Pakistan, Japan, and Egypt were the leading destinations. Corn and grain sorghum prices were lower. Weekly corn export sales were up seven percent from the previous week and four times higher than the average needed to meet annual projections. South Korea, China, Peru, and Mexico were the leading buyers. Wheat prices were lower. Export sales were down 9 percent from the previous week, but were still higher than expected and nearly double the weekly average needed to meet USDA export projections for the marketing year.
Futures markets were higher for fed cattle, cotton, wheat, and lumber, but lower for feeder cattle and corn. Most of the state east of a line from Del Rio to Fort Worth recorded rainfall last week with totals of 2 inches or more reported in Southeast Texas.
Texas Cash Markets for the week ending Nov. 30:
•Feeder steers, $187.42/cwt
•Fed cattle, $132/cwt
•Grain sorghum, $7.40/cwt
•Cabbage, $9.50/50 lbs
•Feeder cattle, $165.47/cwt
•Fed cattle, $133.47/cwt
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.