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TDA Market Report
AUSTIN -- For the week ending Aug. 2, Texas auctions quoted feeder cattle prices mostly steady to $10 higher per hundredweight (cwt). Texas direct feeder cattle sales were $4 to $7 higher. Fed cattle cash prices were near-unchanged at $162 per cwt. Wholesale beef values posted new record highs for the week, up $4 to $6 per cwt.
Corn and grain sorghum prices were lower as prospects for large U.S. crops continued to pressure the market. There were concerns about dry spots in the Corn Belt, but not enough to turn prices around. In Texas, 38 percent of the corn crop is mature, and farmers are preparing for harvest in the Southeast and South Central regions of the state. The crop is rated in mostly good to fair condition. The Texas grain sorghum harvest is 33 percent complete with the remaining crop also in mostly good to fair condition.
Texas Cash Markets for the week ending Aug. 4:
•Feeder steers, $215.24/cwt
•Fed cattle, $162.18/cwt
•Slaughter lambs, $160.50/cwt
•Slaughter goats, $213/cwt
•Grain sorghum, $6.16/cwt
•Feeder cattle, $220.27/cwt
•Fed cattle, $157.30/cwt
•Lumber, $324.10/1000 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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