For the week ending Feb. 5, feeder cattle auction price trends were mixed, mostly $3 lower to $3 higher per hundredweight with a few to $9 lower and receipts late in the week limited by wintry weather. Fed cattle prices were $2 higher. Cotton and grain prices were higher on continued strong global demand and tight supplies. Wheat had an added boost from concerns that extremely cold weather on the Plains would damage the crop. As for futures markets, fed cattle, cotton, wheat and corn were higher while feeder cattle and lumber were lower. Cotton futures reached a new all-time record $1.7622 high on Wednesday. Most of the state, except parts of the Trans-Pecos and South Texas, received precipitation during the week with amounts ranging from a trace to two inches in some locations. Much of the moisture fell late in the week as snow and freezing rain. Winter wheat was reported to be in mostly fair to very poor condition. Ice and freezing temperatures damaged wheat and vegetable crops in some areas, but the extent of the damage was not yet known. Pastures remain in mostly fair to poor condition, and livestock across the state required supplemental feed. Spring calving is underway in many areas and the very cold and wet conditions caused problems for some producers.
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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,
http://www.tdamarketnews.com/.
