Agricultural Market Summary Dec. 18, 2012

For the week ending Dec. 15, 2012, feeder cattle prices reported by Texas auctions were mostly steady to $6 higher per hundredweight (cwt), with a few to $10 lower on fleshy unweaned calves and some as much as $10 higher. Texas direct feeder cattle sales were steady to $3 higher. The Oklahoma City National Stockyards were steady to $2 higher on feeder cattle, but steady to $2 lower on calves. The feeder cattle situation has not changed much over the past several weeks, though demand did seem to pick up late in the week. Overall, tight feeder supplies and prospects that they will get even tighter are trying to push prices higher while high grain prices and the dry conditions in many areas are trying to pull them lower. Fed cattle cash prices were 50 cents higher per cwt in moderate trade. Beef prices were higher. Cotton was higher following a supportive USDA supply and demand report, and another week of strong export sales. Wheat, corn and grain sorghum prices were lower on continued weak export demand for U.S. grains. However, domestic grain supplies remain tight and prices are still well above where they were at this time last year. As for futures markets, feeder cattle, fed cattle, cotton and lumber were higher, but wheat and corn were lower. Parts of East Texas recorded an inch or more of rain during the week, while little or no precipitation fell in other areas of the state. Crop progress and condition information are not available as the weekly USDA NASS crop progress report has been suspended for the season. It is scheduled to resume on Monday, Dec. 31. This is also the last weekly market recap until after the first of the year. We wish you all a Merry Christmas, joyous New Year and a safe and happy holiday season.

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. *Texas A&M Forest Service, “Texas Timber Price Trends”. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary Dec. 11, 2012

For the week ending Dec. 8, 2012, feeder cattle prices reported by Texas auctions were mostly $5 lower to $4 higher per hundredweight (cwt), with a few to $12 lower early in the week and some as much as $10 higher. Texas direct feeder cattle sales were steady to $1 higher. The Oklahoma City National Stockyards were steady to $2 higher on feeder cattle, but $4 to $6 lower on calves. Tight feeder supplies, and prospects that they will get even tighter, are offset by high grain prices and the dry conditions that have caused a lack of winter grazing in many areas. Auction cattle can also vary considerably in quality and condition, which can also cause prices to vary. Fed cattle cash prices were $3 lower per cwt in very light trade. Beef prices were lower. Cotton was modestly lower as large world supplies continue to burden the market. However, prices did rebound later in the week after USDA reported the largest weekly export sales of the marketing year. Wheat, corn and grain sorghum prices declined on continued weak export demand for U.S. grains. However, domestic supplies are tight and prices remain at historically-high levels well above where they were at this time last year. As for futures markets, feeder cattle, cotton and lumber were higher, but fed cattle, wheat and corn were lower. More than one inch of rain fell in parts of the Upper Coast and in East Texas, with totals in excess of two inches in some areas. Crop progress and condition information are not available as the weekly USDA NASS crop progress report has been suspended for the season. It is scheduled to resume on Monday, Dec. 31.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary Dec. 5, 2012

For the week ending Dec. 1, 2012, feeder cattle price trends reported by Texas auctions were $6 lower to $5 higher per hundredweight (cwt), with a few to $9 higher.  Texas direct feeder cattle sales were firm to $3 higher. The Oklahoma City National Stockyards were $1 to $5 higher on feeder cattle and $4 to $10 higher on calves. Feeder cattle price trends remain uneven depending on local conditions, quality of the offerings and how well they fit buyer needs. Fed cattle cash prices were more than $1 lower per cwt in light trade. Wholesale beef values were lower for Choice-grade offerings and near-unchanged for Select beef. Cotton prices were higher following a supportive USDA weekly export report. Wheat prices were higher due to declining U.S. crop conditions and excessive rainfall in Argentina and Australia that is delaying their harvests. Corn prices were modestly higher in spite of weak export sales and low water levels in the Mississippi River that might impede barge traffic out of the Midwest. As for futures markets, cotton, wheat, corn and lumber were higher, but feeder cattle and fed cattle were lower. More than one-half inch of rain fell in parts of East Texas, but most of the state received little or no rainfall during the week. Crop progress and condition information are not available as the weekly USDA NASS crop progress report has been suspended for the season. It is scheduled to resume on Monday, Dec. 31.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary Nov. 20, 2012

For the week ending Nov. 17, 2012, feeder cattle price trends reported by Texas auctions ranged from $5 higher to $6 lower per hundredweight (cwt) with the largest discounts on lightweight, unweaned calves. Texas direct feeder cattle sales were $1 lower. The Oklahoma City National Stockyards were steady to $3 lower. Feeder cattle prices continue to be pulled in both directions, with tight supplies supporting the market, but high grain prices, negative cattle feeding margins and dry conditions in many areas applying downward pressure. Fed cattle cash prices were near unchanged, while wholesale beef values were higher for Choice-grade offerings, but lower for Select beef. Cotton prices were higher on talk of Chinese purchases in spite of their large stockpiles. Wheat prices were lower as large world supplies and weak export demand for U.S. wheat continued to weigh on the market. Corn and grain sorghum were lower as weak export demand for U.S. corn and more favorable weather in South America more than offset the tight domestic supplies. As for futures markets, feeder cattle, fed cattle, cotton and lumber were higher, but wheat and corn were lower. Little rain fell statewide during the week with amounts less than one-half inch limited to parts of South and West Texas. According to the weekly USDA NASS crop progress report, cotton harvest advanced to 80 percent complete, well ahead of the 65 percent average for this date. Corn harvest has been completed and grain sorghum harvest was 91 percent complete compared to the normal 87 percent. Winter wheat planting advanced to 94 percent complete, slightly ahead of the 91 percent average, and 79 percent of the acreage has emerged. Wheat was reported in mostly fair to good condition, with much of the crop in need of rain. Pastures were rated in mostly fair to poor condition.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary Nov. 13, 2012

For the week ending Nov. 10, 2012, feeder cattle price trends reported by Texas auctions ranged from $5 higher to $5 lower per hundredweight (cwt) with a few head as much as $15 lower. Texas direct feeder cattle sales were steady. The Oklahoma City National Stockyards were firm to $3 higher on feeder cattle, but $2 to $5 lower on calves. The feeder cattle situation remains unchanged with shrinking supplies offset by high grain prices and negative cattle feeding margins. Fed cattle cash prices were $1 lower after wholesale beef values declined. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were higher for the week amid concerns about dry conditions on the U.S. Plains, but declined somewhat on Friday after USDA reported higher projected U.S. and world ending stocks. Corn cash prices were unchanged for the week, but grain sorghum was higher. Weak export demand for U.S. corn was offset by tight domestic supplies and concerns about unfavorable weather in South America. As for futures markets, fed cattle, wheat and lumber were higher, but feeder cattle, cotton and corn were lower. One-half inch or more of rain fell in Northeast Texas, along parts of the upper coast and in the eastern Panhandle, but other areas received little or no rainfall. The weekly USDA NASS crop progress report was not available as federal offices were closed in observance of Veterans Day.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary Nov. 6, 2012

For the week ending Nov. 3, 2012, feeder cattle price trends reported by Texas auctions ranged from $4 lower to $5 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $1 lower. The Oklahoma City National Stockyards were steady to $3 lower. The feeder cattle situation remains unchanged with shrinking supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were near unchanged as lower beef prices, concerns about beef demand and higher carcass weights again offset the impact of smaller cattle inventories. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were higher due to dry conditions on the Plains and estimates of lower production in Russia. Corn and grain sorghum prices were slightly higher on reports of unfavorable weather in South American. As for futures markets, corn and lumber were higher, wheat was unchanged and feeder cattle, fed cattle and cotton were lower. One-half inch or more of rain was recorded in parts of East Texas, along the Gulf Coast and in the western Edwards Plateau, but other areas recorded little or no rainfall. According to the weekly USDA NASS crop progress report, cotton harvest advanced to 56 percent complete, well ahead of the 43 percent average for this date. Corn was 99 percent harvested, compared to the 93 percent average, while grain sorghum harvest was 78 percent complete, lagging behind the normal 81 percent. Winter wheat planting advanced to 87 percent complete compared to the normal 83 percent, and 69 percent of the acreage has emerged. Wheat was reported in mostly fair to good condition.  Pasture condition ratings declined modestly last week as cooler temperatures and frost in northern areas pushed grasses towards dormancy.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

 

Agriculture Market Summary Oct. 31, 2012

For the week ending Oct. 27, 2012, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to a week ago, with a few as much as $10 higher and some $3 lower on fleshy, unweaned offerings. Texas direct (non-auction) feeder cattle sales were steady. The Oklahoma City National Stockyards were mostly $1 to $6 higher with heifer calves steady. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were near unchanged compared to the previous week as lower beef prices and concerns about beef demand offset the impact of smaller supplies of available cattle. Cotton prices were lower as large world supplies and weak demand continue to pressure the market. Wheat prices were slightly higher after Ukraine confirmed it will halt exports in mid-November and the International Grains Council reduced its global production estimate. However, large world supplies and weak export demand for U.S. wheat limited the gains. Corn prices were lower because of weak exports and lower crude oil prices. As for futures markets, wheat and lumber were higher, but feeder cattle, fed cattle, cotton and corn were lower. Scattered showers fell over the eastern two-thirds of the state last week with amounts generally less than one-half inch. Information from the weekly USDA NASS crop progress report was not available this week as USDA headquarters offices in Washington, DC were closed due to Hurricane Sandy.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary Oct. 23, 2012

For the week ending Oct. 20, 2012, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to a week ago, with a few as much as $10 higher and some to $5 lower. Several locations noted good demand, especially for long-weaned feeders and steer calves. Texas direct feeder cattle sales and the Oklahoma City National Stockyards were steady to $2 higher. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were more than $2 higher per cwt in response to higher beef prices and smaller supplies of available cattle. Cotton prices were higher primarily due to a current shortage of cotton meeting the requirements for futures market deliveries. Wheat prices were higher amid concerns about slow emergence, improved weekly U.S. exports and reports that Ukraine might halt exports in mid-November. Corn prices followed wheat and soybeans higher, but gains were limited by sluggish exports and reports of additional corn imports from South America. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. A half-inch or more of rain fell last week in parts of Southeast Texas, the Lower Rio Grande Valley, Trans-Pecos and South Plains, while other areas received little or no rainfall. According to the weekly USDA NASS crop progress report, the condition index for cotton declined slightly last week, but remained unchanged for corn, peanuts, grain sorghum and soybeans. Cotton harvest was 31 percent complete, ahead of the 27 percent average for this date. Bolls have opened on 92 percent of the acreage, also ahead of normal. Corn was 95 percent harvested compared to the 88 percent average, while grain sorghum harvest was 67 percent complete, well behind the normal 77 percent. Winter wheat planting advanced to 74 percent complete, slightly ahead of the normal 73 percent, and 51 percent of the acreage has emerged. Pasture conditions improved somewhat with 27 percent of the acreage rated in good to excellent condition compared to 24 percent last week. The area rated poor to very poor declined from 42 to 41 percent and 32 percent was rated in fair condition compared to 34 percent a week ago.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary Oct. 16, 2012

For the week ending Oct. 13, 2012, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to a week ago, with a few as much as $10 higher and some to $5 lower. The heaviest discounts were on fleshy, unweaned calves. Texas direct feeder cattle sales were $2 to $3 higher. At the Oklahoma City National Stockyards, feeder cattle were mostly steady to $3 higher, with steer calves as much as $12 higher. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were $1.40 higher per cwt in response to higher beef prices and smaller supplies of available cattle. Cotton prices were lower as large world supplies continue to weigh on the market. Wheat prices were higher after USDA projections for end-of-year stocks came in lower than expected, but gains were moderated by weak export demand for U.S. wheat. Corn prices increased after USDA lowered its corn production and projected carryover estimates. As for futures markets, fed cattle, cotton, wheat, corn and lumber were higher, but feeder cattle were lower. Scattered showers fell statewide during the week with a half-inch or more of rain reported in parts of Northeast Texas, Central Texas, the Trans-Pecos and the Panhandle. According to the weekly USDA NASS crop progress report, the condition index for peanuts declined last week, but remained unchanged for corn, cotton, rice, grain sorghum and soybeans. Cotton harvest was 24 percent complete, slightly ahead of the 23 percent average for this date. Bolls have opened on 88 percent of the acreage, also ahead of normal. Corn was 88 percent harvested, higher than the 84 percent average, while grain sorghum harvest was 64 percent complete, well behind the normal 75 percent. Winter wheat planting advanced to 67 percent complete compared to the normal 65 percent, and 43 percent of the acreage has emerged. Pasture conditions improved modestly with 24 percent of the acreage rated in good to excellent condition compared to 23 percent last week. The area rated poor to very poor declined from 46 to 42 percent and 34 percent was rated in fair condition compared to 31 percent a week ago.

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. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Texas Agricultural Market Summary Oct. 9, 2012

For the week ending Oct. 6, 2012, feeder cattle prices reported by Texas auctions ranged from $6 lower to $5 higher per hundredweight (cwt) early in the week, but steady to $5 higher later, with a few locations as much as $10 higher. Texas direct feeder cattle sales were weak to $4 lower. At the Oklahoma City National Stockyards, feeder cattle were $2 to $4 higher. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were $1 higher per cwt in response to lower Choice beef prices and smaller supplies of available cattle. Cotton prices were higher on smaller projected end-of-year global supplies and reports of higher-than-expected abandonment on the Texas Plains. Wheat prices were lower for the week as beneficial rains fell in U.S. winter wheat areas and export buyers bypassed U.S. wheat for cheaper South American and European supplies. Corn prices declined because of weak export demand, increasing harvest-time supplies and private forecasts of higher production. As for futures markets, feeder cattle, fed cattle and cotton were higher, but wheat, corn and lumber were lower. Scattered showers fell statewide during the week with totals generally less than one-half inch. Crop progress and condition information was not available for this report as the USDA office that provides the data was closed for the Columbus Day holiday.

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. *Texas A&M Forest Service, “Texas Timber Price Trends”. MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary Oct. 2, 2012

For the week ending Sept. 29, 2012, feeder cattle prices reported by Texas auctions ranged from $6 lower to $6 higher per hundredweight (cwt) compared to a week earlier, with a few as much as $10 higher. Texas direct feeder cattle sales were steady to $2 higher early in the week, but sales came to a standstill later when bids declined. At the Oklahoma City National Stockyards, feeder cattle were steady to $2 higher, but calves were $2 to $4 lower. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were $3 lower per cwt in response to lower beef prices. Wheat and corn prices ended the week higher after USDA released a bullish grain stocks report on Friday morning. Cotton prices were lower as large world supplies and a stronger dollar pressured the market. As for futures markets, wheat, corn and lumber were higher, but feeder cattle, fed cattle and cotton were lower. Rain fell statewide during the week with totals in excess of two inches reported in many areas. According to the weekly USDA NASS crop progress report, the condition indexes declined slightly last week for cotton and peanuts, but remained unchanged for corn, rice and grain sorghum. Cotton harvest was reported to be 15 percent complete, behind the 18 percent average for this date. Bolls have opened on 71 percent of the acreage, well ahead of normal. Corn was 75 percent harvested, higher than the average, while grain sorghum harvest was 66 percent complete, behind the normal 70 percent. Winter wheat planting advanced to 43 percent complete compared to the normal 38 percent. Eleven percent of the acreage has emerged. Pasture conditions improved modestly with 19 percent of the acreage rated in good to excellent condition compared to 18 percent last week. The area rated poor to very poor declined from 53 to 48 percent and 33 percent was rated in fair condition compared to 29 percent a week ago.

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, www.TexasAgriculture.gov.

Agriculture Market Summary September 18, 2012

For the week ending Sept. 15, 2012, feeder cattle prices reported by Texas auctions ranged from $5 lower to $8 higher per hundredweight (cwt) depending on location and how well their offerings matched buyers’ requirements. Texas direct feeder cattle sales were steady to $3 higher. The Oklahoma City National Stockyards were steady to $2 higher. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and poor cattle feeding margins. Fed cattle cash prices were $2 to $3 higher and wholesale beef prices were nearly unchanged. Cotton and grain prices received a boost late in the week after the U.S. Federal Reserve Board announced additional economic stimulus measures. However, cotton still finished the week lower because of large world supplies and the sale of Chinese reserves. Corn and grain sorghum prices finished modestly lower as increasing harvest-time supplies and weak export demand offset forecasts for lower U.S. production and unfavorable weather in South America. Wheat prices also benefited from prospects for lower production in Russia and dry weather in Australia. As for futures markets, feeder cattle, fed cattle, wheat and lumber were higher while cotton and corn were lower. Rain fell statewide during the week with the heaviest amounts reported in Central and East Texas. According to the weekly USDA NASS crop progress report, the crop condition indexes for cotton, peanuts, soybeans and pastures improved from a week earlier while corn, rice and grain sorghum remained unchanged. Cotton harvest advanced to 10 percent complete, but was slightly behind the 13 percent average for this date. Bolls have opened on 50 percent of the acreage, well ahead of normal. Corn was 86 percent mature and 68 percent harvested, both higher than the average. Grain sorghum harvest was slightly behind normal at 60 percent complete. Rice harvest was 95 percent complete compared to 94 percent on average. Pastures improved with the recent rainfall, with 17 percent of the acreage rated in good to excellent condition compared to 12 percent last week. The area rated poor to very poor declined from 58 percent to 52 percent. Thirty-one percent was rated in fair condition compared to 30 percent a week ago.

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, www.TexasAgriculture.gov. 

Agriculture Market Summary Srpt. 11, 2012

For the week ending Sept. 8, 2012, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight (cwt) with a few as much as $10 higher, but some $6 lower on at least a portion of their offerings. Texas direct feeder cattle sales were mostly steady. The Oklahoma City National Stockyards were closed for the Labor Day holiday. The feeder cattle situation remains unchanged with tight supplies offset by high grain prices and negative cattle feeding margins. The fed cattle cash trade was $1 higher in very light trade and wholesale beef prices were $1 to $2 higher. Cotton prices were lower after China auctioned some of its cotton reserves and reports indicated that Hurricane Isaac did not damage the cotton crop as much as expected. Wheat prices increased on prospects for increased U.S. exports. Corn and grain sorghum prices were lower due to increasing harvest-time supplies, weak export demand and competition from cheaper South American corn. As for futures markets, fed cattle and wheat were higher, but feeder cattle, cotton, corn and lumber were lower. Parts of South Texas, West Texas and the Panhandle recorded an inch or more of rain during the week while little or no rainfall was reported elsewhere in the state. According to the weekly USDA NASS crop progress report, the crop condition indexes for cotton, peanuts and soybeans declined from a week earlier, while corn, rice and grain sorghum remained unchanged. For cotton, 98 percent of the acreage is setting bolls or beyond, and bolls are opening on 42 percent, both ahead of normal. Nine percent of the crop has been harvested. Corn was 74 percent mature and 62 percent harvested, both higher than the average for this date. Grain sorghum harvest was slightly behind normal at 59 percent complete. Rice harvest was 90 percent complete compared to 92 percent on average. Pasture conditions deteriorated with 12 percent of the acreage rated in good to excellent condition, down from 17 percent last week while the area rated poor to very poor increased from 52 percent to 58 percent; and 30 percent was rated in fair condition.

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, www.TexasAgriculture.gov.

Agriculture Market Summary Sept. 5, 2012

For the week ending Sept. 1, 2012, feeder cattle prices at Texas auctions were mostly steady to $4 higher per hundredweight (cwt) to $10 higher, with a few to $3 lower and some as much as $8 higher. One location noted that prices on replacement heifers were $10 to $20 higher. Texas direct feeder cattle sales were steady to $2 higher and at the Oklahoma City National Stockyards feeder cattle were steady to $5 higher. Tight feeder supplies and prospects they will get even tighter this fall continue to support higher prices while variable quality and high grain prices limited gains. The fed cattle cash trade was $2 to $3 higher, but wholesale beef prices were lower. Cotton prices were higher amid concerns that Hurricane Isaac would damage cotton that was nearing harvest. Wheat prices increased at midweek on rumors that Russia might limit exports, but then retreated after Russian agencies decided that restrictions are not needed at this time. Corn and grain sorghum prices were lower mostly due to weak export demand. As for futures markets, feeder cattle, cotton, wheat and corn were higher, but fed cattle and lumber were lower. A few locations along the coast and in East Texas recorded an inch or more of rain during the week while little or no rainfall was reported elsewhere in the state. According to the weekly USDA NASS crop progress report, the crop condition indexes for cotton, corn, peanuts, rice and grain sorghum remained unchanged from a week earlier. For cotton, 97 percent of the acreage is setting bolls or beyond, and bolls are opening on 31 percent, both well ahead of normal. Eight percent of the crop has been harvested. Corn was 73 percent mature and 61 percent harvested, both higher than the average for this date. Grain sorghum was 72 percent mature and 58 percent harvested, also ahead of the normal pace. Rice harvest was 80 percent complete compared to 84 percent on average. Pasture conditions were near unchanged 17 percent of the acreage rated in good to excellent condition; 52 percent was rated poor to very poor; and 31 percent was rated in fair condition.

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, www.TexasAgriculture.gov.

Agriculture Market Summary Aug. 28, 2012

For the week ending Aug. 25, 2012, feeder cattle price trends at Texas auctions ranged from $8 lower per hundredweight (cwt) to $10 higher. Texas direct feeder cattle sales were also mixed with a limited test on most classes. At the Oklahoma City National Stockyards, feeder cattle were $3 lower to $2 higher. Tight feeder supplies and prospects they will get even tighter this fall continue to support higher prices. However, variable quality, high grain prices and poor pasture conditions in many areas pulled some markets lower. The fed cattle cash trade was unchanged from the previous week, and wholesale beef prices were about $1 lower. Cotton prices were higher amid continued dry weather in U.S. growing areas and concerns that India might limit exports because of weak monsoon rains and lower production. Wheat prices increased early in the week in response to reports of a smaller Russian crop, but weakened later as beneficial rains fell in parts of the U.S. winter wheat growing area. Corn and grain sorghum prices were modestly higher as prospects for a smaller U.S. crop were partially offset by weak export demand. As for futures markets, feeder cattle, cotton and corn were higher, but fed cattle, wheat and lumber were lower. Much of the state recorded rainfall during the week, ranging from less than a quarter inch in many areas to more than one inch in the eastern Panhandle, northern Low Plains and along the coast. According to the weekly USDA NASS crop progress report, the crop condition indexes for cotton and peanuts improved by one point from a week ago, while corn, rice, grain sorghum and soybeans remained unchanged. For cotton, 95 percent of the acreage is setting bolls or beyond, and bolls are opening on 21 percent, both well ahead of normal. Seven percent of the crop has been harvested. Corn was 64 percent mature and 56 percent harvested, both higher than the average for this date. Grain sorghum was 71 percent mature and 57 percent harvested, also ahead of the normal pace. Rice harvest was 59 percent complete compared to 72 percent on average. Pasture conditions improved slightly with 17 percent of the acreage now rated in good to excellent condition compared to 16 percent a week ago; 53 percent was rated poor to very poor; and 30 percent was rated in fair condition.

  

 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, www.TexasAgriculture.gov.

Agriculture Market Summary, August 21, 2012

For the week ending Aug. 18, 2012, feeder cattle prices at Texas auctions were mostly steady to $5 higher per hundredweight (cwt), although a few locations were steady to $5 lower and a few were as much as $10 higher. Texas direct feeder cattle sales were $1 to $4 higher. At the Oklahoma City National Stockyards, feeder cattle were $1 to $5 higher and calves were steady to $5 higher. Higher fed cattle, lower feed grains and tightening supplies continue to support higher prices, although negative cattle feeding margins and poor pasture conditions in many areas limited the increase. The fed cattle cash trade was $1 higher per cwt and wholesale beef prices were $7 to $8 higher. Cotton prices were lower as large world supplies and rain in some U.S. growing areas more than offset concerns about dry conditions in India. Wheat prices were lower as large world supplies continue to pressure the market, but they made a partial recovery late in the week on forecasts for lower production in Russia and the Ukraine, and export purchases by Taiwan and South Korea. Corn and grain sorghum prices also fluctuated as weather concerns and strong demand from ethanol plants were offset by reports that the U.S. may import cheaper corn from Brazil. As for futures markets, feeder cattle, fed cattle and lumber were higher, but cotton, corn and wheat were lower. Rain was reported statewide during the week with totals ranging from less than a quarter inch in many areas to more than two inches in some locations. According to the weekly USDA NASS crop progress report, the state’s cotton crop is in mostly fair to poor condition with 92 percent of the acreage setting bolls and bolls opening on 18 percent, both ahead of normal. Corn was rated in mostly good to fair condition with 51 percent of the crop harvested, which is ahead of the average for this date. Grain sorghum was 70 percent mature, ahead of the normal 60 percent, and the crop is rated in mostly good to fair condition. Rice harvest was 45 percent complete with the crop in mostly good to excellent condition. Pasture and hay conditions varied across the state depending on rainfall. Pastures improved slightly with 16 percent of the acreage now rated in good to excellent condition; 55 percent rated poor to very poor; and 31 percent rated in fair condition.

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, www.TexasAgriculture.gov.

Agriculture Market Summary for Aug 15, 2012

For the week ending Aug. 11, 2012, feeder cattle prices at Texas auctions were mostly steady to $5 higher per hundredweight (cwt), although a few locations were steady to $5 lower and a few were as much as $10 higher. Texas direct feeder cattle sales were $1 to $4 higher. At the Oklahoma City National Stockyards, feeder cattle were steady to $4 lower. Higher fed cattle, lower feed grains and tightening supplies contributed to the higher prices, although negative cattle feeding margins limited the increase. The fed cattle cash trade was more than $1 higher per cwt and wholesale beef prices were $6 to $7 higher. Cotton prices were unchanged for the week. Prices increased early amid ongoing concerns about unfavorable weather in West Texas and India, but fell on Friday after USDA reported higher than expected production and carryover supplies. Corn and grain sorghum also ended the week modestly lower after projections for lower demand offset a lower production forecast. Meanwhile, wheat was higher. As for futures markets, feeder cattle, fed cattle and lumber were higher, but corn, grain sorghum and wheat were lower. Scattered showers fell over much of the state during the week with some locations reporting an inch or more of rain, mostly in East Texas, West-Central Texas and the eastern Panhandle. According to the weekly USDA NASS crop progress report, the state’s cotton crop is in mostly fair to poor condition with, 87 percent of the acreage setting bolls and bolls opening on 15 percent, both ahead of normal. Corn was rated in mostly good to fair condition with 61 percent of the crop mature, compared to 57 percent on average. Grain sorghum was 65 percent headed, ahead of the normal 58 percent, and the crop is rated in mostly good to fair condition. Rice harvest advanced to 62 percent complete, well ahead of the 35-percent average for this date. The crop is reported in mostly good to excellent condition. Pasture and hay conditions varied across the state depending on rainfall. Statewide, pasture conditions declined somewhat with 14 percent of the acreage now rated in good to excellent condition; 55 percent rated poor to very poor; and 31 percent rated in fair condition.

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, www.TexasAgriculture.gov.






 

Agriculture Market Summary August 7, 2012

For the week ending Aug. 4, 2012, feeder cattle prices at Texas auctions were steady to as much as $12 higher per hundredweight (cwt), although a few locations noted lower prices on part of their offerings. Texas direct feeder cattle sales were mostly $1 to $3 higher. At the Oklahoma City National Stockyards, feeder cattle were $2 to $4 higher and calves were $2 to $3 lower. Tight supplies and lower feed grains for much of the week contributed to the higher prices, although negative cattle feeding margins limited the increase. The fed cattle cash trade was $3.50 higher per cwt following several weeks of light marketings. Wholesale beef prices were higher. Cotton prices were higher amid ongoing concerns about hot, dry weather in West Texas and drier than normal conditions in India. Grain prices were lower for much of the week before turning higher on Friday due to renewed concerns about drought in the Midwest, a weaker dollar and higher stock markets, metals and crude oil. The Texas Forest Service reported that during the May-June period, Texas pine saw log and pulp wood prices were higher than both the previous reporting period and a year ago. Hardwood saw logs were lower. An improved housing market and better overseas demand contributed to the increase in pine saw log prices. As for futures markets, feeder cattle, fed cattle, cotton, corn and lumber were higher, but wheat was lower. Very little rain fell anywhere in the state during the week with only a few light showers along the coast, in far West Texas and in the northern Panhandle. According to the weekly USDA NASS crop progress and condition report, the condition index for cotton was 50 points, down from 59 points a week ago, but well above the 35 points at this time last year. For cotton, 98 percent of the acreage is squaring and 68 percent is setting bolls, both ahead of normal. The corn condition index was 67 points, down four from last week, with 95 percent of the crop tasseled and 35 percent harvested, well ahead of normal. Grain sorghum was 82 percent headed and 54 percent of the crop has been harvested, both ahead of normal. The condition index was 70 points, unchanged from a week ago. The condition index for peanuts was 77, up one point from last week. Rice harvest is 15 percent complete, with a condition index of 80, down six points from a week ago. Pasture and hay conditions varied across the state depending on rainfall. Statewide, pasture conditions declined with only 18 percent of the acreage rated in good to excellent condition; 50 percent was rated poor to very poor; and 32 percent was rated in fair condition.

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, www.TexasAgriculture.gov.

Agriculture Market Summary July 31, 2012

For the week ending July 28, feeder cattle prices at Texas auctions were generally steady to as much as $12 higher per hundredweight (cwt), though a few locations noted lower prices, especially on fleshy, unweaned calves. Texas direct feeder cattle sales and the Oklahoma City National Stockyards were steady to $3 lower. Tight supplies, higher futures markets and a dip in grain prices contributed to the higher prices, though negative cattle feeding margins limited the increase. The fed cattle cash trade was $1.33 higher per cwt and wholesale beef prices were flat for most of the week before declining on Friday. Cotton prices ended the week modestly higher amid concerns about hot, dry weather in West Texas and unfavorable growing conditions in India. Grain prices were lower through mid-week due to weak export demand and hopes for improved weather in the Corn Belt. Prices rebounded later as the hot, dry conditions in the Midwest continued and private forecasts called for lower production in the Corn Belt. As for futures markets, feeder cattle and fed cattle were higher, but cotton, wheat, corn and lumber were lower. Scattered showers fell over much of the state during the week with some locations in East, South and West Texas recording an inch or more of rainfall. According to the weekly USDA NASS crop progress and condition report, the condition index for cotton was 59 points, down from 62 points a week ago, with 92 percent of the acreage squaring and 48 percent setting bolls, both ahead of normal. The corn condition index was 71, down 2 points from last week, with 93 percent of the crop tasseled and an above-normal 17 percent of the acreage harvested. Grain sorghum was 81 percent headed and 53 percent of the crop has been harvested, both ahead of normal. The condition index was 70 points compared to 69 a week ago. The condition index for peanuts improved to 76 points, up 1 point from last week. Rice harvest is 3 percent complete, with a condition index of 86, up 5 points from a week ago. Pasture and hay conditions varied considerably across the state depending on rainfall. Statewide, conditions declined somewhat with 22 percent of the pasture acreage rated in good to excellent condition; 44 percent was rated poor to very poor; and 34 percent was rated in fair condition.

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/.

Agriculture Market Summary July 24, 2012

For the week ending July 21, feeder cattle prices at Texas auctions were mostly $3 to $15 lower per hundredweight (cwt) early in the week and steady to $7 lower later. Texas feeder cattle sales directly to stocker operations and feedlots were $2 to $4 lower. At the Oklahoma City National Stockyards, feeder cattle were $6 to $10 lower. Higher grain prices, lower fed cattle, hot temperatures and poor pasture conditions all contributed to the decline. The fed cattle cash trade was $1.65 lower per cwt following a drop in wholesale beef prices. Cotton prices ended the week modestly higher amid concerns about hot, dry weather in West Texas and unfavorable growing conditions in India and Pakistan. The expanding drought and unusually hot weather in the U.S. Corn Belt continued to drive corn, grain sorghum and wheat higher. As for futures markets, fed cattle, cotton, wheat, corn, cotton and lumber were higher, but feeder cattle were lower. Much of the state recorded rainfall during the week ranging from a few hundredths of an inch in many areas to some locally heavy totals of an inch or more. The weekly USDA NASS crop progress and condition report showed crops in mostly fair to good condition across the state. The overall condition index for cotton was 62 points, up from 61 a week ago, with 87 percent of the acreage squaring and 35 percent setting bolls, both ahead of normal for this date. The corn condition index was 73, down 2 points from last week, with 88 percent of the crop tasseled and 50 percent mature, both ahead of average. Grain sorghum was 78 percent headed and 44 percent of the crop has been harvested, both ahead normal. The condition index was 69 points compared to 70 a week ago. The condition index for peanuts improved to 75 points, up 4 points from last week, with 67 percent of the acreage pegging. Rice was 70 percent headed with a condition index of 81, down 3 points from a week ago. Pastures and hay field conditions varied considerably across the state depending on rainfall. Statewide, 22 percent of the pasture acreage was rated in good to excellent condition; 40 percent was rated poor to very poor; and 38 percent was rated in fair condition.

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/.

Agriculture Market Summary July 17, 2012

For the week ending July 14, feeder cattle prices at Texas auctions were mostly $3 to $10 lower per hundredweight (cwt) compared to pre-July 4 holiday sales, with a few as much as $20 lower on calves. Texas feeder cattle sales directly to stocker operations and feedlots were $2 to $7 lower. At Oklahoma City National Stockyards, feeder cattle were $2 to $7 lower and calves were down $10 to $20. Higher grain prices, lower fed cattle, hot temperatures and poor pasture conditions all contributed to the decline. The fed cattle cash trade was more than $2 lower per cwt following a drop in wholesale beef prices. Cotton prices ended the week higher on optimism that demand will improve after China reported its economy grew more than expected during the previous quarter. Corn, grain sorghum and wheat were again higher amid ongoing concerns about crop damage due to hot, dry weather in the Corn Belt. As for futures markets, wheat, corn and cotton were higher, but feeder cattle, fed cattle and lumber were lower. Most of the state recorded precipitation during the week with many areas south and east of a line from Del Rio to Dallas reporting an inch or more. The heaviest rains fell in parts of Central Texas and in an area from Rockport on the coast, north to Brenham and east to Jasper − with some places reporting more than 10 inches of rain. The weekly USDA NASS crop progress and condition report showed cotton in mostly fair to good condition with 76 percent of the acreage squaring and 25 percent setting bolls, both ahead of the average for this date. Corn was rated in mostly good to fair condition with 83 percent of the crop tasseled and 48 percent mature, both well ahead of normal. Grain sorghum planting was completed in northern areas and 28 percent has been harvested in southern counties, ahead of the 20 percent average. The crop was reported in mostly good to fair condition. Wheat harvest was nearing completion earlier than normal. Peanuts were rated in mostly fair to good condition with 56 percent of the acreage pegging, and rice was in mostly good to excellent condition with 58 percent of the crop headed. Pastures and hay fields improved significantly in areas that received adequate rain, but declined elsewhere. Statewide, 21 percent of the pasture acreage was rated in good to excellent condition; 41 percent was rated poor to very poor; and the remainder was rated in fair condition.

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/.

Agriculture Market Summary July 10, 2012

For the week ending July 7, a feeder cattle price trend for Texas auctions is not available as most locations were closed for the Independence Day holiday. Texas feeder cattle sales directly to stocker operations and feedlots were mostly steady. At Oklahoma City, the sales volume was not sufficient to establish a trend. The fed cattle cash trade was almost $1 higher per hundredweight and beef prices were lower. Cotton prices were lower due to a stronger dollar, concerns about cotton demand and modest chances of beneficial rains in West Texas. Corn and grain sorghum were higher amid ongoing concerns that hot, dry weather in parts of the Corn Belt will damage the corn crop. Wheat prices followed other grains higher with an added boost from lower production forecasts for parts of Europe. As for futures markets, wheat, corn and lumber were higher, but feeder cattle, fed cattle and cotton were lower. Parts of East Texas, South Texas and the Trans-Pecos recorded an inch or more of rain during the week while little or no rain fell in other areas of the state. The weekly USDA NASS crop progress and condition report showed cotton is squaring on 61 percent of the acreage, ahead of the average pace, while 15 percent is setting bolls, slightly behind the average for this date. Cotton condition was rated mostly fair to good. Corn was rated in mostly good to fair condition with 79 percent of the crop tasseled and 32 percent mature, both well ahead of normal. Grain sorghum was 99 percent planted and 28 percent has been harvested, both ahead of the average. The crop was reported in mostly good to fair condition. Wheat was 99 percent harvested, much above the 90 percent average for this date, with the remaining crop rated in mostly fair to good condition. Peanuts are pegging on 32 percent of the acreage and rice was 47 percent headed, both slightly behind normal. Pastures declined with the hot temperatures and scattered rainfall, and were reported in mostly fair to poor condition.

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/.

Agricultural Market Summary July 3, 2012

For the week ending June 30, feeder cattle price trends at Texas auctions were uneven, from $8 lower per hundredweight (cwt) to $3 higher. Texas direct feeder cattle prices were down $8 to $10 compared to two weeks ago. Oklahoma City was $3 to $4 lower on feeder cattle and steady to $3 lower on calves. Steady to lower fed cattle and beef markets, dry pastures, early drought-related sales in some areas and variable quality were all factors impacting markets last week. The fed cattle cash trade was mostly inactive for the week with only 482 head of confirmed cash sales at prices unchanged from a week ago. Cotton prices were higher due to concerns about hot, dry weather in Texas and other sections of the Cotton Belt. Corn and grain sorghum were higher amid ongoing concerns that hot, dry weather in parts of the Corn Belt will damage the crop. Wheat prices followed corn higher with added worries about dry weather and lower production forecasts for parts of Europe. As for futures markets, wheat and corn were higher, but feeder cattle, fed cattle, cotton and lumber were lower. Areas south of a line from Laredo to Houston and parts of the northern Panhandle recorded a half-inch or more of rain while little or no rain fell in other areas of the state. The weekly USDA NASS crop progress and condition report showed that cotton is squaring on 33 percent of the acreage and 11 percent is setting bolls, both behind the average for this date. Cotton condition was rated mostly fair to good. Corn was rated in mostly good to fair condition with 67 percent of the crop tasseled and 11 percent mature, both ahead of normal. Grain sorghum was 95 percent planted, slightly behind normal, and 19 percent has been harvested, well ahead of the average. The crop was reported in mostly good to fair condition. Wheat was 98 percent harvested, much above the 79 percent average for this date, with the crop rated in mostly fair to good condition. Peanuts are pegging on 8 percent of the acreage and rice was 31 percent headed, with both crops in mostly good to fair condition. Pastures declined with the hot temperatures

Crop condition indices calculated by news/analytics firm DTN-Telvent dropped 22%, their soybean index fell 21% and the spring wheat index declined 7%. Here in Texas, the condition indices calculated by USDA NASS were unchanged to slightly lower compared to a week earlier, but remain well above were they were at this time last year. Cotton declined to 61 points from 62 a week ago, but much higher than the 37 point reading at this time last year. The indices for peanuts and grain sorghum also declined slightly. Corn, soybeans, wheat and oats were unchanged. Rice increased slightly. For the full Texas report, please click here.

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/.

Agriculture Market Summary for June 26, 2012

For the week ending June 23, feeder cattle price trends at Texas auctions were mostly steady to $7 lower per hundredweight (cwt), although a few locations also noted prices as much as $5 higher on a portion of their offerings. Lower fed cattle and beef markets, dry pastures and variable quality offset smaller supplies. A Texas direct feeder cattle trend was not available due to light trade volumes as sellers passed up the lower bids in hopes of a recovery. The Oklahoma City auction was $1 to $5 lower. Fed cattle cash prices were down $3 in very light trade as the market followed beef values lower, leaving many sellers unwilling to accept the lower bids. Cotton prices were lower due to a mixed export sales report, a stronger dollar and weaker outside markets, although declines were limited by concerns about hot, dry weather in Texas, rumors of large purchases by China and a delayed harvest in Pakistan. Corn and grain sorghum were higher due to concerns that hot, dry weather in parts of the Corn Belt will damage the crop, although gains were limited by weak exports and poor ethanol margins. Wheat prices were higher on weather concerns in Europe and a lower production forecast for Russia. As for futures markets, feeder cattle, fed cattle, wheat, corn and lumber were higher while cotton was lower. Southeast Texas, coastal areas, west-central Texas and parts of the northern Panhandle recorded a half inch of rain or more while little or no rain fell in other areas of the state. The weekly USDA NASS crop progress and condition report showed that cotton planting is nearing completion, with 22 percent of the acreage squaring and 13 percent setting bolls, both near normal for this date. Cotton condition was rated mostly fair to good. Corn was rated in mostly good to fair condition with 59 percent of the crop silking, slightly ahead of the average pace. Grain sorghum planting progress was slightly behind normal at 91 percent complete, but 68 percent of the crop was headed, well ahead of normal. The crop was reported in mostly good to fair condition. The state’s wheat crop was 84 percent harvested, much above the 63 percent average for this date. The crop was rated in mostly fair to good condition. Pastures remained in mostly good to poor condition and need rain in many areas. 

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/.

Agriculture Market Summary June 19, 2012

For the week ending June 16, feeder cattle price trends at Texas auctions were mixed, ranging from $6 lower to $6 higher per hundredweight (cwt). Lower cattle futures, dry pastures, variable quality and lower prices for fed cattle offset the seasonally smaller supplies and the impacts of a smaller cow herd. The Texas direct feeder cattle trade was steady to $2 higher. The Oklahoma City auction was mostly steady on feeder cattle and steady to $3 lower on calves. Fed cattle cash prices were $3 lower, while beef values were mixed, with Choice beef prices higher and Select-grade offerings lower. Cotton prices were higher following a favorable weekly export sales report and supportive outside markets, including a weaker dollar, higher crude oil and higher stock markets. Corn and grain sorghum were lower due to forecasts for more favorable growing conditions in the Midwest, weak ethanol margins and speculation that corn acreage might be higher than current USDA projections. Wheat prices followed other grains lower as the advancing winter wheat harvest added to supplies, though stronger export sales helped limit losses. As for futures markets, cotton was higher while feeder cattle, fed cattle, wheat, corn and lumber were lower. Most of the state except southwest Texas recorded rainfall during the week, with amounts in excess of two inches in parts of East Texas, the Edwards Plateau, West Texas and the Panhandle. The weekly USDA NASS crop progress and condition report showed corn planting has been completed and 60 percent of the acreage is silking, ahead of the 53 percent average for this date. Condition was rated mostly good to fair. Grain sorghum was 93 percent planted, 60 percent headed and 14 percent mature, all ahead of normal, with the crop in mostly good to fair condition. The state’s wheat crop was 74 percent harvested, much above the 46 percent average for this date. The crop was rated in mostly good to poor condition. Cotton planting was ahead of normal at 97 percent complete, and 15 percent of the crop is squaring. The state’s cotton acreage was rated in mostly fair to good condition. Pastures continued to improve slowly in areas that received rain and remain in mostly good to poor condition statewide. 

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/.

Agriculture Market Summary for June 12, 2012

For the week ending June 9, feeder cattle prices at the Texas auctions covered by USDA Market News were mostly steady to $3 higher per hundredweight (cwt). The Texas direct feeder cattle trade was steady to $3 higher. The Oklahoma City auction was mostly steady. Fed cattle cash prices were nearly $1 higher compared to the previous week, while beef prices were lower with Select-grade offerings posting the most decline. Cotton prices pushed higher at the end of the week as a weaker dollar and supportive export sales offset improved prospects for the U.S. crop and ample world supplies. Corn and grain sorghum were higher amid concerns that hot, dry weather in the Midwest might hurt this year’s crop. Wheat prices followed other grains higher, but gains were limited by increasing harvest-time supplies of hard red winter wheat. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. South Texas and much of the state north of a line from Corpus Christi to Odessa recorded precipitation during the week, with some locally heavy totals in excess of three inches. The weekly USDA NASS crop progress and condition report showed corn planting nearing completion with 95 percent of the acreage emerged, slightly behind the average for this date. Condition was rated mostly good to fair. Grain sorghum was 92 percent planted and 59 percent headed, both well ahead of normal, with the crop in mostly good to fair condition. The state’s wheat crop was 50 percent harvested, much above the 30 percent average for this date. The crop was rated in mostly good to poor condition. Cotton planting was 95 percent complete and 14 percent of the crop is squaring, both ahead of normal. The state’s cotton acreage was rated in mostly fair to good condition. Pastures improved in areas that received rain, though the moisture also boosted weed and brush growth. Pastures were rated mostly good to poor statewide with supplemental feed still needed in some areas.

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/.