For the week ending July 3, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight with a few as much as $10 higher. Auction receipts were down for the week as most late-week sales were closed for the Independence Day holiday weekend. Fed cattle prices were unchanged for the week and wholesale beef prices were slightly higher. Cotton prices declined on favorable growing conditions and prospects for a larger U.S. crop. Corn and grain sorghum prices were higher for the week after USDA reported fewer planted acres and lower stocks in storage than expected. As for futures markets, wheat, corn and lumber were higher, while feeder cattle, fed cattle and cotton were lower. Most of the state received rainfall during the week with parts of South Texas, the Coastal Bend and the Upper Coast recording 10 to 15 inches of rain from Hurricane Alex. Topsoil moisture supplies were rated mostly adequate to short, with surplus conditions noted in areas that received drenching rains from Alex. Wheat harvest progressed to 78 percent complete statewide, well behind the normal 88 percent, but nearing completion in some areas. Cotton planting has been completed with 56 percent of the acreage squaring and 11 percent setting bolls. Grain sorghum planting is nearing completion and 56 percent of the acreage is headed. Harvest has begun in a few areas. The state’s corn crop is silking on 55 percent of the acreage and 6 percent was mature. Crop and pasture conditions were rated mostly good to fair 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.
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.
