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Agriculture Today

Texas Cash Market recap, April 6




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April 17, 2013 | 2904 views | Post a comment

AUSTIN -- For the week ending April 6, feeder cattle prices reported by Texas auctions were mostly steady to $6 higher per hundredweight (cwt). However, late in the week, a few locations noted lower prices on a portion of their offerings. Texas direct feeder cattle sales were $3 to $5 higher and the Oklahoma City National Stockyards were $2 to $8 higher. Lower grain prices, higher fed cattle markets and beneficial rains that boosted pasture conditions contributed to the stronger feeder cattle market. Fed cattle cash prices were $1.50 higher. Wholesale beef values were mixed, with Choice-grade offerings higher, but Select cuts lower. Weekly beef export sales were up 5 percent from the prior four-week average, but cumulative sales for 2013 are running slightly behind last year’s pace. Cotton prices were higher on the tight world supplies outside China, projections that world cotton use will exceed production in 2013 and continued dry conditions on the Texas South Plains. Weekly export sales came in higher than the previous week and higher than the average needed to meet U.S. Department of Agriculture’s (USDA) projections for the marketing year, but lower than the prior four-week average. Wheat and corn prices were lower because of weak exports and continued reaction to the prior week’s USDA report showing higher-than-expected stocks on hand. Wheat export sales were much lower than expected, but still higher than the average needed to reach marketing year projections. Corn export sales declined from the previous week.  . . .

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