Agriculture Market Recap for the week ending April 16

Feeder cattle prices at Texas auctions were mostly $2 to $10 lower per hundredweight. Lower fed cattle prices and high feed grain costs contributed to the decline. The fed cattle cash market followed wholesale beef prices lower. Cotton prices fell after China announced it will reduce usage and some export sales were cancelled. Grain prices were lower as export sales and demand declined somewhat. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber were all lower. Parts of East Texas recorded up to one-half inch of rain during the week, with little or no precipitation elsewhere in the state. Topsoil moisture supplies remained short to very short with the U.S. Drought Monitor showing the entire state suffering from abnormally dry to exceptional drought conditions. Wildfire danger remains high with some large West Texas fires still not under control. The wheat crop was rated in mostly poor to very poor condition with 33 percent of the acreage headed, slightly ahead of normal. Planting of corn, grain sorghum and cotton progressed at a slower than normal pace as growers waited for more favorable soil moisture. Forty-eight percent of the corn acreage has emerged, but much of the crop has been stressed by the dry, windy conditions. Pastures were reported in fair to very poor condition and needed rain statewide.

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 the week ending April 9

Feeder cattle price trends at Texas auctions were very uneven early in the week, from $6 lower per hundredweight to $8 higher. Later in the week sales were mostly steady to $4 lower. Higher fed cattle markets and higher grain prices contributed to the unevenness. Fed cattle increased along with beef prices to a new record high. Cotton and grain prices were higher for the week as supplies remain tight and demand strong. The very dry conditions throughout the state and in other major wheat growing areas contributed to the increases. As for futures markets, feeder cattle, fed cattle and lumber were lower, while cotton, wheat and corn were higher. Little rainfall was recorded across the state though thunderstorms late on Sunday did produce locally heavy amounts of one-half inch or more, primarily west of I-35 and north of Austin. Topsoil moisture supplies remain mostly short to very short statewide. The wheat crop is 22 percent headed and reported in mostly poor to very poor condition. Corn planting was 55 percent complete and 40 percent of the acreage has emerged, both slightly behind normal. Grain sorghum, rice and soybean planting were ahead of normal. Cotton planting was 11 percent complete, compared to 12 percent on average by this date. Pastures were reported in mostly fair to very poor condition and needing rain statewide.

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 week ending April 2

Feeder cattle prices at Texas auctions were mostly steady to $5 higher per hundredweight with some to $8 higher. Fed cattle prices were sharply higher on continued tight supplies and higher wholesale beef prices, which in turn helped push feeder cattle markets higher. Cotton prices were lower for the week, but showed some strength on Thursday after USDA reported lower than expected planting intentions. Wheat and corn were higher after reports showed lower than expected corn inventories. As for futures markets, feeder cattle, fed cattle, wheat and corn were higher while cotton and lumber were lower. Very little rainfall was recorded anywhere in the state during the week with amounts over one-half inch limited to the Dallas-Fort Worth area and a few other widely scattered locations. Topsoil moisture supplies were rated short to very short in most areas and crops and pastures need rain statewide. Ten percent of the winter wheat acreage is headed with the crop reported in mostly fair to very poor condition. Spring planting is ahead of the normal pace with planting progress at 54 percent complete for corn, 10 percent for cotton, 50 percent for grain sorghum and 67 percent for rice. Pastures were reported in mostly fair to very poor condition.

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.