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TDA Market Report
AUSTIN -- For the week ending July 26, Texas auctions quoted feeder cattle prices mostly steady to as much as $10 higher per hundredweight (cwt), though a few lower prices also were noted early in the week. Texas direct feeder cattle sales were $3 to $7 higher. Fed cattle cash prices were $7 higher to a record of $162 per cwt. Wholesale beef values were $9 to $12 higher, also to new record highs. Prices rebounded across the cattle sector as markets refocused on the tight supplies and continued strong demand.
Corn and grain sorghum prices were lower as conditions remain favorable for large production this year, though the price declines did generate some buying interest late in the week. Seventy-six percent of the U.S. corn crop was rated in good to excellent condition, unchanged from a week earlier and the best rating for this week since 1993. The Texas corn crop is in mostly good to fair condition. Texas grain sorghum is 88 percent headed and 23 percent harvested.
Texas Cash Markets for the week ending July 26:
•Feeder steers, $207.81/cwt
•Fed cattle, $161.98/cwt
•Slaughter lambs, $160/cwt
•Slaughter goats, $216/cwt
•Grain sorghum, $6.34/cwt
Futures markets:•Feeder cattle, $218.25/cwt
•Fed cattle, $159.10/cwt
•Lumber, $325.50/1000 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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