You’ve been granted free access to this subscribers only article.
TDA Market Report
AUSTIN -- For the week ending June 28, Texas auctions quoted feeder cattle prices mostly $2 to $10 higher per hundredweight (cwt), with a few steady and some as much as $15 higher. Texas direct feeder cattle prices were $1 to $7 higher. Strong competition for limited supplies of feeder cattle continues to support the market at record or near-record high levels. Fed cattle cash prices were up more than $4 to a new record high of $154 per cwt. Wholesale beef values were $4 to $5 higher per cwt.
Cotton prices were lower as conditions across the Cotton Belt remained favorable for a large 2014 crop. Weak export data also contributed to the decline. Exports of 126,400 bales were up six percent from a week earlier, but down 28 percent from the average and smaller than the weekly total needed to meet projections for the marketing year.
Corn and grain sorghum prices were lower as overall crop conditions continue to favor a large corn crop this year. However, parts of the Corn Belt have experienced localized problems with excessive rains, cool temperatures, and flooding.
Most of the state received rainfall during the week with the heaviest accumulations of 2 inches or more reported in the Coastal Bend, Upper Coast, and East Texas regions. Last week’s U.S. Drought Monitor showed a very slight improvement in overall conditions in Texas, with 89 percent of the state rated in some degree of drought or abnormal dryness, down from 90 percent a week ago. The areas in severe to exceptional drought declined, but areas in moderate drought expanded. Much of East Texas and a section of South Texas remain drought-free.
Nationally, the total area experiencing abnormal dryness or some degree of drought remained unchanged at 45 percent of the contiguous states.
Texas Cash Markets for the week ending June 28:
•Feeder steers, $202.89/cwt
•Fed cattle, $154.08/cwt
•Slaughter lambs, $160.50/cwt
•Slaughter goats, $216/cwt
•Grain sorghum, $7.69/cwt
•Feeder cattle, $214.32/cwt
•Fed cattle, $152.25/cwt
•Lumber, $337.50/1000 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.
Your Opinions and Comments
Be the first to comment on this story!
You must be logged in to post a comment.
Agriculture Today Archives
Add some ‘glads’ to your garden (June 29, 2016)
County Farm Bureau: Giving back to the community, more (June 29, 2016)
Dr. Johnson receives Honorary FFA degree (June 29, 2016)
Livestock Market Reports (June 29, 2016)
Pleasanton cowgirl represents Texas in Tennessee (June 29, 2016)
TDA Market Recap (June 29, 2016)
Texas Hay Report (June 29, 2016)
U.S. Cattlemen defend beef: Say no to ‘Meatless Monday’ (June 29, 2016)
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)