Agriculture Market Recap for 6/28/10

For the week ending June 26, feeder cattle prices at Texas auctions were mostly steady to $6 higher per hundredweight, with a few locations to $2 lower. Competition for a shrinking supply of feeders pushed prices higher in most locations, but dry pasture conditions reduced demand in a few areas, pulling some prices lower. Fed cattle prices were near unchanged from a week ago. Grain prices were lower as ample world supplies and favorable growing conditions pressured markets. Cotton prices were unchanged as expectations for improved global demand were offset by prospects for a larger U.S. crop. As for futures markets, feeder cattle, fed cattle and cotton were higher, while wheat, corn and lumber were lower. Parts of the Plains and East Texas recorded as much as three inches of rain with scattered showers reported elsewhere. Statewide, topsoil moisture was reported in mostly short to adequate supply. Wheat harvest was 58 percent complete, well behind the normal 73 percent for this date, as rainfall delayed harvest in some areas of the High Plains and Blacklands. Cotton planting neared completion and 8 percent of the acreage is now setting bolls, slightly behind average. Grain sorghum was 95 percent planted, 49 percent headed and 9 percent mature. The corn crop was progressing with 51 percent of the acreage silked and 40 percent in dough-stage – both slightly behind normal. Crops and 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 website, www.tdamarketnews.com.

Agriculture Market Recap for 6/21/10

For the week ending June 19, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight, with a few locations to $4 lower. Tighter supplies of quality feeder cattle and good summer grazing in many areas continue to support markets. Fed cattle prices were lower as wholesale beef values continued to decline. Cotton prices were higher on expectations for stronger export demand. Corn and grain sorghum were higher on prospects for additional exports to China and concerns about poor weather conditions in the Midwest. Wheat prices received a boost from reports of reduced plantings in Canada. As for futures markets, feeder cattle, cotton, wheat and corn were higher, while fed cattle and lumber were lower. Most areas of the state received rainfall during the week with amounts ranging from a trace to more than five inches with reports of localized flooding in some areas. Topsoil moisture levels remained mostly short to adequate. Wheat harvest began on the Northern High Plains and was 43 percent complete statewide, well behind the normal 56 percent. The corn crop was 98 percent emerged and 29 percent of the acreage was in dough stage. Cotton planting was nearing completion and seven percent of the crop is setting bolls. Grain sorghum planting advanced to 93 percent complete and 45 percent of the acreage was headed. Most crops and pastures were reported in mostly good to fair condition, with corn and rice rated mostly good to excellent.

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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 website, www.tdamarketnews.com.

Agriculture Market Recap for 6/14/10

For the week ending June 12, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight, with a few to $8 higher and some locations $1 to $4 lower. Demand remains strong for a tightening supply of high quality feeders. Fed cattle were $2 lower following another decline in wholesale beef prices. Cotton prices were higher on prospects for expanded exports and signs of continued economic recovery in China, the largest customer for U.S. cotton. Corn and grain sorghum were higher after USDA released projections for higher usage for ethanol production. Wheat prices continued to decline, as ample global supplies remain a burden on markets as the U.S. harvest gathers momentum. As for futures markets, feeder cattle, cotton, wheat and corn were higher, while fed cattle and lumber were lower. Parts of East and North Texas recorded up to 10 inches of rain during the week, with scattered showers reported elsewhere. The wheat harvest advanced to 29 percent complete, well behind the normal 39 percent for this date as rains caused delays in some areas. The crop was reported in mostly good to fair condition. Cotton planting was at 93 percent complete, slightly ahead of normal, and 4 percent of the acreage was setting bolls. Corn planting was nearing completion with 46 percent of the crop silking. Grain sorghum was 88 percent planted and 42 percent of the crop was headed. Crops and 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 website, www.tdamarketnews.com.

Agriculture Market Recap for 6/7/10

For the week ending June 5, feeder cattle prices at Texas auctions were mostly steady to $3 higher per hundredweight with a few locations to $6 higher and some to $5 lower. Demand remains good for a tighter supply of high quality feeders, especially in areas that have received adequate rainfall and expect good summer grazing. The fed cattle market was higher in spite of lower beef prices. Cotton and grain prices were lower to sharply lower as good growing conditions, a stronger dollar, lower crude oil prices and concerns about future demand pressured markets. As for futures markets, feeder cattle, fed cattle and lumber were slightly higher, while cotton, wheat and corn were lower. Many areas of the state reported rainfall during the week with amounts ranging from a trace to more than five inches. Topsoil moisture was rated mostly adequate to short with the driest conditions reported in parts of East Texas. The state’s wheat crop continues to mature with almost all the acreage now headed and 17 percent harvested, behind the normal 24 percent. Cotton planting was 88 percent complete, ahead of the 84 percent average, and 9 percent of the acreage was squaring. Corn planting neared completion and 37 percent of the acreage was silking. Planting of grain sorghum, peanuts, soybeans and sunflowers was also active. Most crops and pastures were reported 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 website, www.tdamarketnews.com.