TDA Market Recap
AUSTIN -- For the week ending March 8, Texas feeder cattle auctions reported prices mostly steady to $3 higher per hundredweight (cwt), with a few locations as much as $10 higher. However, a few lower prices also were noted. Texas direct feeder cattle prices were $1 to $3 higher. Fed cattle cash prices declined $2 from the previous week’s new record-high to land at $148 per cwt. Wholesale beef values also were higher. Tight supplies and strong demand continued to support markets throughout the cattle sector.
Cotton cash prices were higher due to strong weekly export data and concerns about the dry conditions on the Texas Plains and in California. Stronger equity markets and the ongoing crisis in Ukraine contributed to the rise in prices.
Wheat prices for the week were higher in response to stronger export data, concerns about dry conditions in U.S. winter wheat areas and the increased potential for U.S. exports due to the turmoil in Ukraine.
Corn and grain sorghum prices were higher due to stronger than expected export data, spillover from higher soybean prices and the situation in Ukraine.
Texas Cash Markets for the week ending March 8:
•Feeder steers, $168.84/cwt
•Fed cattle, $147.99/cwt
•Slaughter lambs, $195.50/cwt
•Slaughter goats, $243/cwt
•Grain sorghum, $8.82/cwt
•Cabbage, $9.00/50 lbs
•Feeder cattle, $172.37/cwt
•Fed cattle, $143.25/cwt
•Corn, $4.81 /bu
All cash prices above are market averages for locations covered by the U.S. Department of Agriculture Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for Texas direct sales of 650-850 pound medium and large No.1 steers for current delivery. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” For additional information, contact the Texas Department of Agriculture at 800-835-5832 or visit www.TexasAgriculture.gov.