Agriculture Market Recap for 1/31/11

For the week ending Jan. 29, feeder cattle auction prices were mostly steady to $7 lower per hundredweight with a few to $10 lower and some sales later in the week steady to $5 higher. Lower fed cattle and high feed grain prices contributed to the decline. Cotton prices were higher, with the March futures contract hitting an all-time record high on Thursday, due to strong exports, a lower crop estimate for India, strong Chinese demand and dry weather on the Texas High Plains. Strong export sales also pulled wheat higher and weaker sales pushed corn lower. As for futures markets, cotton, wheat and lumber were higher while fed cattle, feeder cattle and corn were lower. Parts of East Texas received up to 2 inches of rain during the week, but little or no rain was reported elsewhere. Topsoil moisture remained mostly adequate to short in the eastern half of the state and mostly short to very short in West Texas. Winter wheat was 96 percent emerged and reported in mostly fair to poor condition. Dry-land wheat on the Plains and in the Cross Timbers region suffered from the very dry conditions. Field preparations for spring planting were underway in many locations. With pastures in mostly fair to poor condition, livestock required supplemental feed in many areas.

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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 1/24/11

For the week ending Jan. 22, feeder cattle auction prices were mostly $3 to $10 higher per hundredweight, with a few as much as $20 higher and some to $2 lower. Tight supplies and strong demand for available cattle continued to support the market. Fed cattle prices were lower. Strong exports, a weaker dollar and dry conditions on the Texas High Plains pushed cotton and grain prices higher. As for futures markets, feeder cattle, cotton, wheat, corn and lumber were higher while fed cattle were lower. Areas north of Amarillo and east of a line from Corpus Christi to Uvalde to Fort Worth recorded precipitation during the week with the heaviest amounts falling in parts of East Texas. Topsoil moisture was rated mostly adequate to short in the eastern half of the state, and mostly short to very short in West Texas. The winter wheat crop was rated in mostly fair to poor condition with 95 percent of the acreage emerged. On the Plains, dryland wheat continued to suffer from very dry conditions. Field preparations for spring planting are underway in many locations. Pastures were reported to be in mostly fair to poor condition, and in need of rain in many areas. Livestock required supplemental feed statewide as hay supplies and forage conditions continued to decline.

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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 1/18/11

For the week ending Jan. 15, feeder cattle auction prices were mostly steady to $10 higher per hundredweight with some locations as much as $15 higher on at least a portion of their offerings. Continued tight supplies of available cattle and higher fed cattle prices contributed to the increase. Fed cattle markets followed wholesale beef prices higher. Cotton cash prices were unchanged after trading higher early in the week in anticipation of Wednesday’s USDA reports, and then declining later after China again raised bank reserve requirements. Grain prices were higher after the USDA reports showed even tighter than expected supplies for most commodities. Wheat gave back some of its gains later in the week as world supplies remain ample compared to other grains. As for futures markets, feeder cattle, fed cattle, cotton, wheat and corn were higher while lumber was lower. Most of the state south and east of a line from Del Rio to Fort Worth recorded precipitation during the week with the heaviest amounts falling in Northeast Texas. Winter wheat was 94 percent emerged with the crop reported in mostly fair to poor condition. On the Plains, dryland wheat continued to suffer from dry conditions while irrigated acreage and wheat in other regions of the state progressed well. Pastures were rated in mostly poor to fair condition. In many areas, livestock required supplemental hay and protein as reports indicated hay supplies were being depleted in some locations.

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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 1/10/11

For the week ending Jan. 8, feeder cattle auction prices were higher to sharply higher compared to pre-holiday markets. Demand remained strong for the available cattle as buyers attempted to rebuild inventories while the weather was still relatively mild. Fed cattle prices declined, but remain at historically high levels well above a year ago. Cotton cash prices were higher as world demand remains strong for a shrinking supply of cotton. Grain prices decreased thanks to a stronger dollar, beneficial rains in South America and weaker demand at the higher prices seen over the past few weeks. As for futures markets, lumber was higher while feeder cattle, fed cattle, cotton, wheat and corn were lower. Most of the state south and east of a line from Wichita Falls to Pecos recorded precipitation during the week with amounts ranging from a trace to more than two inches in isolated areas. The state’s winter wheat crop was rated in mostly fair to poor condition with 93 percent of the acreage emerged. Wheat in the Blacklands and Cross Timbers regions benefited from recent rains while dry conditions continued to stress wheat on the High Plains. Cotton harvest was completed and field preparations for this year’s crop were underway in some areas. Pastures were rated in mostly very poor to fair condition and livestock across the state were fed supplemental hay and protein.

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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 01/04/11

For the week ending Jan. 1, feeder cattle auction prices are not available as all locations covered by Market News were closed for the holidays. The fed cattle market was sharply higher following increases in wholesale beef prices and as processors rebuild post-holiday supplies. Cotton prices were sharply lower after China raised interest rates and set a lower cotton import quota for 2011. Corn and grain sorghum were higher amid ongoing concerns that dry weather in South America will reduce already tight global supplies. Wheat was higher because of the continued dry weather in the major growing areas of the U.S. Central Plains. As for futures markets, feeder cattle, fed cattle, wheat and corn were higher while cotton and lumber were lower. Much of the state north and east of a line from Odessa to Corpus Christi recorded precipitation during the week with the heaviest amounts reported along the Gulf Coast and in northeast Texas. Crop progress and condition information are not available as USDA suspended its weekly report until next week.

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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.