Agriculture Market Recap for 12/27/10

For the week ending Dec. 25, feeder cattle prices at Texas auctions were $1 to $2 higher per hundredweight in a very light test as most of the locations covered by Market News were closed for the Christmas holidays. Fed cattle were $3 higher as processors replenished supplies following the previous week’s light purchases. Cotton and grain prices were higher for the week. Cotton prices continue to increase amid tight global supplies and strong demand with cotton futures closing at a new all-time record high on Tuesday. Wheat was higher because of concerns about the dry weather on the U.S. Central Plains and news that heavy rains in Australia may have damaged their crop. Corn prices were higher as the potential for a smaller South American crop may further tighten world supplies. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. Precipitation was recorded in most of the eastern two-thirds of the state with amounts ranging from a trace to more than two inches in parts of North Texas. Crop progress and condition information are not available as USDA suspended its weekly report until after the first of the year.



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 12/13/10

For the week ending Dec. 11, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight, though a few locations were as much as $10 higher and some were steady to $4 lower. Tight supplies and higher fed cattle prices the past few weeks have supported the market while dry weather, which may limit winter grazing, and volatile grain prices have also applied downward pressure. Fed cattle prices were lower for the week, but remain well above values at this time last year. Cotton prices were higher as USDA lowered its 2010 production forecast and reduced projected end of year stocks to the lowest level since 1925. Wheat prices were modestly higher amid concerns about dry weather in the U.S. and wet weather in Australia. As for futures markets, cotton, wheat, corn and lumber were higher while feeder cattle and fed cattle were lower. Parts of East Texas recorded up to one-half inch of rain during the week, but little or no rainfall was recorded elsewhere in the state. Crop progress and condition information are not available as USDA suspended its weekly report until after the first of the year.


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 12/6/10

For the week ending Dec. 4, feeder cattle prices at Texas auctions were mostly $2 to $6 higher per hundredweight, though comparisons were not available for many locations because of the previous week’s holiday closings. The best demand and highest prices were noted on yearlings and long-weaned offerings. Fed cattle prices were $2 higher. Cotton prices were higher because of strong export sales and a ban by India on cotton yarn exports. Grain prices were higher on a weaker dollar and good export sales, especially for wheat. As for futures markets, fed cattle, cotton, wheat and corn were higher while feeder cattle and lumber were lower. Most of East Texas recorded rainfall during the week with amounts ranging from a trace to an inch or more. The rest of the state reported little or no precipitation. Topsoil moisture was rated in mostly short to adequate supply. Cotton harvest progressed to 90 percent complete, ahead of the normal 83 percent by this date. Corn harvest was completed and grain sorghum was 98 percent harvested. The winter wheat crop was 98 percent planted and 88 percent of the acreage has emerged. The crop was rated in mostly fair to good condition. Dry conditions stressed the crop, especially in the Cross Timbers, Blacklands and South Texas regions. Pastures were in mostly fair to poor condition.

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* Cash grain prices are for Tuesday prior to the Thanksgiving holiday.

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.