Feeder cattle prices were mixed. Selected Texas auctions were mostly $2 lower to $5 higher per hundredweight, though a trend could not be established at some Panhandle locations because of light receipts the previous week. Texas direct feeder cattle sales were mostly steady to $2 lower, while Oklahoma City was $5 lower to $2 higher. Buyers are willing to pay more for the more desirable offerings and to fill current orders, but lighter demand and the onset of cooler, wetter weather are also keeping a lid on the market. Fed cattle prices were lower as packers were able to lower bids and put a small dent in their negative margins. Cotton and grain prices were again lower amid ongoing concerns about the European debt crisis, weak export demand and competition from cheaper foreign grain. As for futures markets, feeder cattle were higher while fed cattle, cotton, wheat, corn and lumber were lower. Much of the state recorded rainfall during the week with the heaviest amounts in northeast and Central Texas. Crop progress and crop condition information are not available, as USDA has discontinued its weekly reports until after the first of the year.
All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA at (800) 835-5832 or visit our website,
http://www.texasagriculture.gov/
