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August 27, 2014 | 2,452 views | Post a comment

AUSTIN -- For the week ending Aug. 16, feeder cattle prices quoted by Texas auctions were mostly steady to $12 lower per hundredweight (cwt), with a few steady to $5 higher on a portion of their offerings. Texas direct feeder cattle sales were $3 to $10 lower. Fed cattle cash prices were nearly $5 lower per cwt on a very light trade volume.

Cotton prices were lower after the U.S. Department of Agriculture (USDA) production forecast and projected end of year stocks came in higher than expected. The resulting stocks-to-use ratio is the highest in 7 years.

Corn and grain sorghum prices were higher after USDA production and stocks data came in at or below expectations. Even so, weather conditions still favor a large crop, with corn production expected to reach a record high 14.0 billion bushels.

Texas Cash Markets for the week ending Aug. 16:

•Feeder steers, $211.54/cwt

•Fed cattle, $154.57/cwt

•Slaughter lambs, $162/cwt

•Slaughter goats, $210/cwt

•Cotton, 62˘/lb

•Grain sorghum, $6.41/cwt

•Wheat, $6.07/bu

•Corn, $3.94/bu

•Watermelons, 11˘/lb

•Pine Saw Logs, $204.81/1000 bd. ft.

•Pine Pulpwood, $8.52/ton

Futures markets:

•Feeder cattle, $217.22/cwt

•Fed cattle, $150.60/cwt

•Cotton, 63.60˘/lb

•Wheat, $6.20/bu

•Corn, $3.66/bu

•Lumber, $345.40/1000 bd ft.

All cash prices above are market averages for locations covered by the USDA 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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