Agriculture Market Recap for 3/29/10

For the week ending March 27, feeder cattle prices at Texas auctions were mostly steady to $3 higher per hundredweight. Demand remains strong, especially for lighter-weight stockers for grazing. Fed cattle prices were lower in spite of higher wholesale beef prices. Cotton and grain markets ended the week lower as weak export sales, a stronger dollar and ample global supplies pressured prices. As for futures markets, feeder cattle, fed cattle, cotton, wheat and corn were lower, while lumber was higher. Much of the state received rain last week with amounts ranging from a trace to 1.5 inches. Topsoil moisture supply was reported in mostly adequate to surplus except for short conditions in parts of the High Plains, Trans-Pecos, Edwards Plateau and South Texas. Winter wheat progressed well with 4 percent of the acreage headed compared to 7 percent on average by this date. Corn planting was again delayed by wet fields, especially in the Blacklands region. The crop is now 39 percent planted compared to 50 percent on average, with 11 percent of the acreage emerged. Grain sorghum planting advanced to 26 percent complete, also well behind the normal pace. Cotton planting is also underway in southern regions with 4 percent of the acreage planted. Pastures were reported in mostly good to fair condition.

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All cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for 500-600 pound medium and large No.1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.

Agriculture Market Recap for 3/22/10

For the week ending March 20, feeder cattle prices at Texas auctions were steady to $6 higher per hundredweight. Strong demand for lighter weight cattle for grazing continues to support the market. Fed cattle were $3 higher for the week following a sharp increase in wholesale beef prices. Cotton and corn prices ended the week higher after weekly export sales exceeded expectations. Higher crude oil and concerns about potential planting delays in the Midwest provided additional support for corn. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. Much of the state received precipitation during the week with amounts ranging from a trace to 2 inches of rain. Soil moisture was reported in mostly adequate to surplus supply though some areas primarily in the Northern Plains and Trans-Pecos remain short. Wheat progressed rapidly in most areas with some fields in South Central Texas beginning to head out. The crop was reported in mostly good to fair condition. Corn planting progressed to 38 percent complete, behind the normal 41 percent by this date, with some fields still too wet to plant. Grain sorghum was also behind normal at 24 percent planted. Cotton planting was underway in South Texas with 3 percent of the crop now planted. Field preparations were delayed in some areas by wet conditions. Pastures were reported in mostly fair to good condition.

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All cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for 500-600 pound medium and large No.1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.

Agriculture Market Recap for 3/15/10

AUSTIN – (March 15, 2010) For the week ending March 13, feeder cattle prices at Texas auctions were $2 to $6 higher per hundredweight on steers and heifers under 600 pounds, and steady to $4 higher on heavier weights. Recent rains have improved pasture conditions, increasing demand for lighter-weight feeders for grazing. Fed cattle prices were $2.60 higher. Cotton declined as demand slipped due to the recently higher prices. Grain markets ended the week lower as ample global supplies and weak exports continued to pressure prices. As for futures markets, feeder cattle, fed cattle and lumber were higher, while cotton, wheat and corn were lower. Rainfall during the week varied from little or no precipitation in the Trans-Pecos to as much as 2 inches in parts of East Texas. Winter wheat progressed well in most areas, but extremely wet conditions in the Blacklands region hampered development. The crop was rated in mostly good to fair condition. Corn planting advanced to 11 percent complete, well behind the normal 28 percent by this date. Grain sorghum planting was also behind schedule with only 8 percent of the crop planted compared to 18 percent on average. Cotton field preparations were underway in many areas and planting was active in South Texas. Pastures were in mostly fair to good condition.

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All cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for 500-600 pound medium and large No.1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.

Agriculture Market Recap for 3/8/10

For the week ending March 6, feeder cattle prices at Texas auctions were mostly $2 to $5 higher per hundredweight with a few sales to $10 higher and some steady to $2 lower. Wet pastures and muddy roads continued to hamper livestock movement and limited supplies at local sale barns. Fed cattle prices were up slightly. Cotton prices increased to new record highs in response to tighter-than-expected global supplies and strong demand. Weak export sales caused grain prices to decline, though concerns about potential planting delays in the Midwest did provide some support. As for futures markets, feeder cattle and fed cattle were higher; cotton, wheat and corn were lower; and lumber was unchanged. Rainfall during the week ranged from little to none in South Texas to as much as an inch elsewhere. Topsoil moisture was reported in mostly adequate to surplus supply with short conditions lingering in parts of the Panhandle and West Texas. Winter wheat was rated in mostly fair to good condition with the crop on the High Plains benefiting from recent rains. Corn planting has been delayed by wet fields and is now 3 percent complete, well behind the normal 17 percent by this date. Wet conditions have also delayed grain sorghum planting and preparations for cotton planting. Pastures were reported in mostly fair to good condition.

Click chart to enlarge:

All cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for 500-600 pound medium and large No.1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.

Agriculture Market Recap for 3/1/10

For the week ending Feb. 27, feeder cattle prices at Texas auctions were mostly steady to $5 higher per hundredweight, with some locations to $10 higher and a few steady to $1 lower. Fed cattle markets were steady. Cotton prices jumped to a record high $73.25 cents per pound after China reported its 2009 production was less than previously estimated, further tightening global supplies. Grain prices were also higher amid concerns that wet spring weather would delay planting. As for futures markets, cotton, wheat and corn were higher, while feeder cattle, fed cattle and lumber were lower. Parts of Central and East Texas recorded up to 1.5 inches of rain for the week while other areas received little or no precipitation. Topsoil moisture supplies were rated mostly adequate to surplus. Winter wheat has responded well to the rainfall, though many areas are too wet for fertilizer applications. The crop is rated in mostly good to fair condition. Wet fields again delayed corn and grain sorghum planting in the Coastal Bend, Upper Coast and Blacklands regions. Pastures were reported to be in poor to good condition. The wet, cool weather has slowed pasture growth and supplemental feeds are still required in many areas.

Click chart to enlarge:

All cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for 500-600 pound medium and large No.1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.