TDA market recap, Dec. 7
AUSTIN -- For the week ending Dec. 7, Texas feeder cattle auctions reported prices mostly steady compared to their previous sale, with a few as much as $10 lower per hundredweight (cwt) and some as much as $4 higher. Much of the price weakness was attributed to the winter storm that hit the state late in the week. Texas direct feeder cattle sales were mostly steady. The Oklahoma National Stockyards were $2 to $4 lower on calves; however, yearling feeder cattle numbers were not sufficient to allow for market comparison. Fed cattle cash prices were steady. Wholesale beef values were lower. Weekly beef export sales were up 22 percent from the previous week and more than double the previous four-week average. However, shipments were lower.
Cotton prices were higher due to strong export sales that were twice the weekly average needed to meet export projections for the marketing year. A winter storm across the U.S. Plains and stronger economic indicators also were factors. Corn and grain sorghum prices were higher after weekly ethanol production came in above levels needed to meet U.S. Department of Agriculture (USDA) projections for the marketing year. There also were concerns that the winter storm could limit near-term corn supplies. Weekly corn export sales were lower than expected, and down from both the previous week and the prior four-week average. However, shipments were higher compared to both periods and higher than the average needed to meet marketing year projections.
Futures markets were higher for cotton and corn, but lower for feeder cattle, fed cattle, wheat, and lumber. Most of the state recorded precipitation during the week, though totals of one-half inch or more were limited to parts of West and North Texas.
Texas Cash Markets for the week ending Dec. 7:
•Feeder steers, $185.17/cwt
•Fed cattle, $131.98/cwt
•Slaughter lambs, $175/cwt
•Slaughter goats, $211/cwt
•Grain sorghum, $7.62/cwt
•Cabbage, $9/50 lbs
•Feeder cattle, $164.47/cwt
•Fed cattle, $131.42/cwt
•Lumber, $344.80/1000 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.