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.
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