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.
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