Agriculture Market Recap for 4/19/10

For the week ending April 17, feeder cattle price trends at Texas auctions were mixed with early-week sales mostly steady to $3 higher per hundredweight and sales later in the week steady to $4 lower. Fed cattle prices were steady to $2 lower. Cotton increased after China, the world’s largest cotton buyer, reported that its economy grew by nearly 12 percent during the first quarter of the year. Grain markets were higher on better-than-expected corn exports, a weaker dollar and higher crude oil prices. As for futures markets, cotton, wheat, corn and lumber were higher while feeder cattle and finished cattle were lower. Most of the state received rainfall during the week with amounts ranging from a trace to localized totals in excess of 10 inches. Topsoil moisture conditions varied from short to surplus. The wheat crop continues to progress with 20 percent of the acreage headed compared to an average 29 percent by this date. The crop is reported in mostly good to fair condition. Corn is 70 percent planted, ahead of the normal pace for the first time this season. Grain sorghum planting remains slightly behind average with 53 percent planted. Corn and grain sorghum were both rated in mostly good to fair condition. Cotton planting was 13 percent completed and planting preparations are underway on the Southern High Plains. Pastures are greening-up with most in 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 4/12/10

For the week ending April 10, feeder cattle prices at Texas auctions were mostly $1 to $5 higher per hundredweight with some sales to $10 higher. Higher fed cattle prices and continued good demand for cattle for summer grazing contributed to the increase. Cotton prices declined after reports indicated current inventories are likely sufficient to keep textile mills supplied through the summer. As for futures markets, feeder cattle, finished cattle, wheat, corn and lumber were higher while cotton was lower. Little to no rainfall was reported across the state last week, allowing spring planting to progress, but also expanding the areas reporting short topsoil moisture conditions. Corn planting was 48 percent and 35 percent of the acreage has emerged, both well behind the normal pace. Cotton was 9 percent planted, also behind normal. Grain sorghum planting was 48 percent complete and planting of rice, soybeans and other spring crops was also active, but behind the normal pace. Winter wheat was 6 percent headed with most of the acreage reported in good to fair condition. Pastures and livestock 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 4/5/10

For the week ending April 3, feeder cattle prices at Texas auctions were mostly $1 to $5 higher per hundredweight with continued good demand for stocker cattle to put on summer grazing. Fed cattle prices were 55 cents lower. Grain prices were lower after USDA reported higher than expected stocks of corn in storage, confirmed large stocks of wheat and reported higher than expected planting intentions for spring wheat. The news more than offset lower than expected projections for corn and soybean planted acres. Cotton was higher after USDA confirmed expectations for a larger crop this year and a weaker dollar supported exports. As for futures markets, feeder cattle, fed cattle and cotton ended the week higher, while wheat, corn and lumber were lower. Some parts of Central and Northeast Texas reported up to one-half inch of rain for the week while most other locations had little or no rainfall. Topsoil moisture remained mostly adequate to surplus except for short to very short conditions in parts of the High Plains and West Texas. Wheat benefited from warmer temperatures on the Plains and was reported in mostly good to fair condition statewide with 5 percent of the acreage headed. Cotton planting was behind normal at 6 percent complete as field preparations continued in northern areas of the state. Corn was 40 percent planted with 24 percent of the acreage emerged, both well behind the average for this date. Planting of grain sorghum, rice, soybeans and other spring crops was also active. Pastures were reported in mostly good to fair condition statewide.

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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.