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.