You’ve been granted free access to this subscribers only article.
TDA Market Report
AUSTIN -- For the week ending June 14, Texas auctions quoted feeder cattle prices steady to as much as $12 higher per hundredweight (cwt). Texas direct feeder cattle prices were mostly $6 to $12 higher. Strong demand and limited supplies of feeder cattle continue to support the market. Feeder cattle futures on June 13 closed at a new record high of $208 per cwt. Fed cattle cash prices were $1.50 to $2 higher per cwt. Wholesale beef values were higher.
Cotton prices were modestly higher as relatively tight current supplies continued to support the market. Last week’s price declines also stimulated some buying interest.
Wheat prices were lower as large world supplies, weak international demand, and increasing harvest-time supplies pressured the market.
Corn and grain sorghum prices were lower as growing conditions across most of the Corn Belt continue to favor a large crop this year. New-crop corn sales of 105,500 MT were five times higher than a week earlier and up 92 percent from the average.
Much of the state received rainfall during the week with totals of 1 inch or more common across East, Central, and West Texas. Last week’s U.S. Drought Monitor showed a modest improvement in overall conditions in Texas, with 89 percent of the state rated in some degree of drought or abnormal dryness, down from 91 percent a week ago. The areas in the two worst categories -- extreme and exceptional drought -- dropped again this week to 23 percent, which is down from 27 percent last week.
Nationally, the total area rated as abnormally dry or in some degree of drought declined by two points to 46 percent.
Texas Cash Markets for the week ending June 14:
•Feeder steers, $195.74/cwt
•Slaughter lambs, $162.50/cwt
•Slaughter goats, $210/cwt
•Grain sorghum, $7.77/cwt
•Pine Saw Logs, $213.12/1000 bd ft.
•Pine Pulpwood, $7.56/ton
•Feeder cattle, $208.15/cwt
•Fed cattle, $147.60/cwt
•Lumber, $307.80/1000 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.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
County committee nomination period begins (June 22, 2016)
Hartmann takes the steer by the horns to win state championship (June 22, 2016)
La Vernia FFA wraps up school year with honors, scholarships (June 22, 2016)
Livestock Market Reports (June 22, 2016)
Root rot knocks out roses (June 22, 2016)
TDA Market Recap (June 22, 2016)
Texas Hay Report (June 22, 2016)
A student’s ag-related journey (June 15, 2016)
Family Land Heritage news (June 15, 2016)
Five dirty truths on agriculture (June 15, 2016)
Horseherb galloping through yards (June 15, 2016)
Kristin Storey: South Texas queen to compete for national title (June 15, 2016)
Livestock Market Reports (June 15, 2016)
Miller announces assistance for farmers devastated by floods (June 15, 2016)
No “rain, rain, go away” as precipitation persists (June 15, 2016)
Schwartz takes lead as Texas state veterinarian (June 15, 2016)
TDA Market Recap (June 15, 2016)
Texas Hay Report (June 15, 2016)
Texas Rural Leadership Program (June 15, 2016)
It’s almost rodeo time in Stockdale (June 8, 2016)
Livestock Market Reports (June 8, 2016)
Save seed pods for next fall (June 8, 2016)
TDA Market Recap (June 8, 2016)
Texas Hay Report (June 8, 2016)
Big Time Texas Hunts entries now on sale (June 1, 2016)
Burbridge leads the way in Buck Taylor roping event (June 1, 2016)
Farm Bureau solicits AgLead, FarmLead participants (June 1, 2016)
June 2016 Gardening Calendar (June 1, 2016)
Livestock Market Reports (June 1, 2016)
Save squash from vine borers (June 1, 2016)
State Farm Bureau testifies on agricultural use valuation (June 1, 2016)
TDA Market Recap (June 1, 2016)
Texas Hay Report (June 1, 2016)