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May 7, 2014 | 5,084 views | Post a comment

AUSTIN -- For the week ending April 26, feeder cattle prices reported by Texas auctions were mostly steady compared to their previous sale, though a few locations were as much as $5 lower per hundredweight (cwt) on a portion of their offerings and some were $5 higher. Texas direct feeder cattle prices were steady on cattle weighing less than 800 pounds and steady to $3 higher on heavier weights. Tight supplies and strong demand continue to support the feeder cattle market. Fed cattle cash prices were $0.67 lower per cwt. Wholesale beef values were higher.

Cotton prices were higher for the week due to concerns about the very dry conditions on the Texas Plains and expectations for lower cotton production in Australia.

Wheat prices were higher amid concerns about dry conditions in U.S. winter wheat areas, earlier freeze damage, and the continued turmoil in Ukraine.

Corn and grain sorghum prices were higher because of concerns about planting delays and reports of a large U.S. grain sorghum sale to China. However, planting was just getting underway in the major Corn Belt states and farmers there could catch up very quickly.

Weather

Parts of East Texas, North Texas, and the Edwards Plateau recorded one-half inch or more of rainfall last week, but most of the state saw little or no precipitation. Last week’s U.S. Drought Monitor showed a decline in overall conditions in Texas, with 86 percent of the state now rated as abnormally dry or in some degree of drought, compared to 82 percent a week ago.

Areas in the two worst categories of extreme and exceptional drought increased to cover a large part of West Texas. Almost all the High Plains and Northern Low Plains are in exceptional drought. Parts of East and South Texas and the Trans-Pecos remain drought-free.

Nationally, conditions also slipped somewhat with 50 percent the contiguous states reported in some degree of abnormal dryness or drought, up 2 percentage points from a week ago.

Texas Cash Markets for the week ending April 26: AUSTIN -- For the week ending April 26, feeder cattle prices reported by Texas auctions were mostly steady compared to their previous sale, though a few locations were as much as $5 lower per hundredweight (cwt) on a portion of their offerings and some were $5 higher. Texas direct feeder cattle prices were steady on cattle weighing less than 800 pounds and steady to $3 higher on heavier weights. Tight supplies and strong demand continue to support the feeder cattle market. Fed cattle cash prices were $0.67 lower per cwt. Wholesale beef values were higher.
Cotton prices were higher for the week due to concerns about the very dry conditions on the Texas Plains and expectations for lower cotton production in Australia.
Wheat prices were higher amid concerns about dry conditions in U.S. winter wheat areas, earlier freeze damage, and the continued turmoil in Ukraine.
Corn and grain sorghum prices were higher because of concerns about planting delays and reports of a large U.S. grain sorghum sale to China. However, planting was just getting underway in the major Corn Belt states and farmers there could catch up very quickly.
Weather
Parts of East Texas, North Texas, and the Edwards Plateau recorded one-half inch or more of rainfall last week, but most of the state saw little or no precipitation. Last week’s U.S. Drought Monitor showed a decline in overall conditions in Texas, with 86 percent of the state now rated as abnormally dry or in some degree of drought, compared to 82 percent a week ago.
Areas in the two worst categories of extreme and exceptional drought increased to cover a large part of West Texas. Almost all the High Plains and Northern Low Plains are in exceptional drought. Parts of East and South Texas and the Trans-Pecos remain drought-free.
Nationally, conditions also slipped somewhat with 50 percent the contiguous states reported in some degree of abnormal dryness or drought, up 2 percentage points from a week ago.
Texas Cash Markets for the week ending April 26:
AUSTIN -- For the week ending April 26, feeder cattle prices reported by Texas auctions were mostly steady compared to their previous sale, though a few locations were as much as $5 lower per hundredweight (cwt) on a portion of their offerings and some were $5 higher. Texas direct feeder cattle prices were steady on cattle weighing less than 800 pounds and steady to $3 higher on heavier weights. Tight supplies and strong demand continue to support the feeder cattle market. Fed cattle cash prices were $0.67 lower per cwt. Wholesale beef values were higher.
Cotton prices were higher for the week due to concerns about the very dry conditions on the Texas Plains and expectations for lower cotton production in Australia.
Wheat prices were higher amid concerns about dry conditions in U.S. winter wheat areas, earlier freeze damage, and the continued turmoil in Ukraine.
Corn and grain sorghum prices were higher because of concerns about planting delays and reports of a large U.S. grain sorghum sale to China. However, planting was just getting underway in the major Corn Belt states and farmers there could catch up very quickly.
Weather
Parts of East Texas, North Texas, and the Edwards Plateau recorded one-half inch or more of rainfall last week, but most of the state saw little or no precipitation. Last week’s U.S. Drought Monitor showed a decline in overall conditions in Texas, with 86 percent of the state now rated as abnormally dry or in some degree of drought, compared to 82 percent a week ago.
Areas in the two worst categories of extreme and exceptional drought increased to cover a large part of West Texas. Almost all the High Plains and Northern Low Plains are in exceptional drought. Parts of East and South Texas and the Trans-Pecos remain drought-free.
Nationally, conditions also slipped somewhat with 50 percent the contiguous states reported in some degree of abnormal dryness or drought, up 2 percentage points from a week ago.
Texas Cash Markets for the week ending April 26:
•Feeder steers, $172.48/cwt
•Fed cattle, $145.15/cwt
•Slaughter lambs, $169/cwt
•Slaughter goats, $220/cwt
•Cotton, 84.25˘/lb
•Grain sorghum, $8.98/cwt
•Wheat, $7.67/bu
•Corn, $5.60/bu
•Grapefruit, $12.65/carton
•Cabbage, $8.00/50 lbs
•Onions, $12.00/40 lbs.

Futures markets:
•Feeder cattle, $180.00/cwt
•Fed cattle, $145.00/cwt
•Cotton, 92.95˘/lb
•Wheat, $7.76/bu
•Corn, $5.07 /bu
•Lumber, $335.50/1000 bd ft.


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.
 

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