Texas Agricultural Market Summary, Dec. 17, 2013

For the week ending Dec. 14, 2013, Texas feeder cattle auctions reported that prices early in the week were mostly steady to $8 lower per hundredweight (cwt) due to lingering impacts of a severe winter storm. Later in the week, prices, along with the weather, improved, and were steady to as much as $12 higher. Texas direct feeder cattle sales were steady. Fed cattle cash prices were $1 lower, and wholesale beef values were lower. Cotton prices were higher following supportive USDA reports. The U.S. cotton production forecast came in lower than expected and projected ending stocks were unchanged. However, projected world supplies increased. Weekly cotton export sales were nearly double the weekly average needed to meet export projections for the marketing year. Corn and grain sorghum prices were lower amid ongoing concerns about large U.S. supplies, uncertain Chinese demand and possible changes to U.S. ethanol policies. Corn export sales for the week were up 17 percent from the previous week and more than double the weekly average needed to meet USDA export projections for the marketing year; however, sales were down 26 percent from the prior four-week average. Wheat prices declined as large world supplies and export competition from other suppliers continued to pressure the market. However, weekly export sales were up 62 percent from the previous week and higher than the weekly average needed to meet expectations for the marketing year. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, but lower for corn and wheat. One half inch or more of precipitation fell in parts of the Trans-Pecos and East Texas during the week, but little or no rain fell elsewhere in the state. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report 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 Texas direct sales of 650-850 pound medium and large No.1 steers for current delivery. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Texas Agricultural Market Summary, Dec. 9, 2013

For the week ending Dec. 7, 2013, Texas feeder cattle auctions reported prices mostly steady compared to their previous sale, with a few as much as $10 lower per hundredweight (cwt) and some as much as $4 higher. Much of the price weakness was attributed to the winter storm that hit the state late in the week. Texas direct feeder cattle sales were mostly steady. The Oklahoma National Stockyards were $2 to $4 lower on calves; however, yearling feeder cattle numbers were not sufficient to allow for market comparison. Fed cattle cash prices were steady. Wholesale beef values were lower. Weekly beef export sales were up 22 percent from the previous week and more than double the previous four-week average. However, shipments were lower. Cotton prices were higher due to strong export sales that were twice the weekly average needed to meet export projections for the marketing year. A winter storm across the U.S. Plains and stronger economic indicators also were factors. Corn and grain sorghum prices were higher after weekly ethanol production came in above levels needed to meet USDA projections for the marketing year. There also were concerns that the winter storm could limit near-term corn supplies. Weekly corn export sales were lower than expected, and down from both the previous week and the prior four-week average. However, shipments were higher compared to both periods and higher than the average needed to meet marketing year projections. Futures markets were higher for cotton and corn, but lower for feeder cattle, fed cattle, wheat and lumber. Most of the state recorded precipitation during the week, though totals of one-half inch or more were limited to parts of West and North Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

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

Texas Agriculture Market Summary, Dec. 3, 2013

For the week ending Nov. 30, 2013, a Texas feeder cattle auction trend is not available as most reporting locations were closed for the Thanksgiving holiday. Texas direct feeder cattle sales were mostly steady. Fed cattle cash prices were $1 higher per hundredweight (cwt), with sales of only about 600 head of cattle confirmed by USDA. Wholesale beef values were higher. Weekly beef export sales were down 43 percent from the previous week, but shipments were 13 percent higher. The primary destinations were South Korea, Mexico and Japan. Cotton prices were higher. Weekly export sales were 13 percent lower than the prior week; however, shipments were 35 percent higher. China, Pakistan, Japan and Egypt were the leading destinations. Corn and grain sorghum prices were lower. Weekly corn export sales were up seven percent from the previous week and four times higher than the average needed to meet annual projections. South Korea, China, Peru and Mexico were the leading buyers. Wheat prices were lower. Export sales were down nine percent from the previous week, but were still higher than expected and nearly double the weekly average needed to meet USDA export projections for the marketing year. Futures markets were higher for fed cattle, cotton, wheat and lumber, but lower for feeder cattle and corn. Most of the state east of a line from Del Rio to Ft. Worth recorded rainfall last week with totals of two inches or more reported in Southeast Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

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

Texas Agricultural Market Summary, Nov. 26, 2013

For the week ending Nov. 23, 2013, Texas auctions reported feeder cattle prices were mostly steady to $8 lower per hundredweight (cwt), but a few were $2 higher on a portion of their offerings. Texas direct feeder cattle sales were steady to $3 lower. Tight cattle supplies and grain prices that were much lower than a year ago have kept the market at near record-high levels. Fed cattle cash prices were $1 lower compared to the previous week following a decline in wholesale beef values. Weekly beef export sales were up 40 percent from the previous week and well above the prior four-week average. Cumulative sales for the year are down 16 percent from this time last year. Cotton prices were lower amid ongoing uncertainty about Chinese cotton policies and reports that its cotton imports fell 42 percent during October. The news more than offset a lower Chinese production forecast. In addition, cotton export sales for the week were down 35 percent from the previous week and lower than the average needed to meet USDA projections for the marketing year. Corn and grain sorghum prices were higher after weekly corn export sales came in above expectations and were more than three times higher than the average needed to meet annual projections. However, the gains were limited as markets continue to adjust to this year’s record large U.S. corn crop. Wheat prices were higher due to reports of unfavorable weather in Australia and Argentina, as well as strong export data. Weekly export sales were higher than expected, and more than double both the previous week and the weekly average needed to meet USDA projections for the year. Futures markets were higher for wheat, unchanged for corn, and lower for feeder cattle, fed cattle, cotton and lumber. Precipitation fell statewide last week with totals of two or more inches reported in parts of South and East Texas and along the Coastal Bend. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

                           













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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Nov. 19, 2013

For the week ending Nov. 16, 2013, Texas auctions reported feeder cattle prices were mostly steady with a few as much as $4 higher per hundredweight (cwt), but some as much as $6 lower. Texas direct feeder cattle sales were mostly steady. Tight cattle supplies and grain prices, which were much lower than a year ago, continued to support the market. Fed cattle cash prices were $1 per cwt higher compared to the previous week. Wholesale beef values were lower. Weekly beef export sales totaled 11,800 metric tons, well above the prior four-week average. For the year, sales are running 16 percent below last year’s pace. Cotton prices were lower due to the advancing harvest and concerns that China will soon begin selling cotton from its massive reserves. Cotton export sales for the week were 472,700 bales, the highest weekly total since June 2012 and more than three times higher than the weekly average needed to meet USDA projections for the marketing year. Grain sorghum prices were higher, but corn was lower, as the record-large U.S. crop continues to weigh on the market. Prices came under additional pressure at the end of the week after the U.S. Environmental Protection Agency (EPA) announced a proposal to lower the renewable fuel standard for 2015, which could reduce the amount of corn needed for ethanol production. Weekly corn export sales totaled in the 1.2 million metric tons, higher than expected and about four times higher than the weekly average needed to meet USDA projections for the marketing year. Wheat prices were lower due to large world supplies, continued favorable weather in the U.S. and lower than expected weekly export sales. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, but lower for corn and wheat. Very little rain fell statewide last week with totals of one-quarter inch or less in scattered locations. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Nov. 13, 2013

For the week ending Nov. 9, 2013, Texas auctions reported feeder cattle prices were mostly steady to $7 higher per hundredweight (cwt), with a few as much as $10 higher, but some $6 lower. Texas direct feeder cattle sales were mostly steady. Dwindling numbers of yearling cattle in the auction mix, tight overall supplies and grain prices that are much lower than a year ago continued to support the market. Fed cattle cash prices declined more than $1 per cwt from the previous week’s record high. Wholesale values were lower for Choice-grade beef, but higher for Select-grade offerings. Weekly beef export sales were a negative 18,500 metric tons, as cancellations outweighed new orders. Shipments totaled 13,300 metric tons; Hong Kong, Japan and Mexico were the top destinations. Cotton prices were lower due to the advancing harvest and projections for larger U.S. and world supplies. Weekly export sales were higher than expected and nearly three times higher than the average needed to meet USDA projections for the marketing year. However, shipments came in lower than expected. Wheat prices were lower due to continued favorable weather in the U.S. and lower export prices from India. Weekly export sales were well above expectations and nearly double the weekly average needed to meet annual projections. Corn prices were unchanged and grain sorghum was higher. Forecasts for higher production were offset by much better than expected export sales. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, unchanged for corn and lower for wheat. Most of the state recorded rainfall during the week, with an inch or more reported in parts of South, West-Central and North Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Nov. 5, 2013

For the week ending Nov. 2, 2013, Texas fed cattle cash prices posted a slight increase to reach a new record high of $132.33 per hundredweight (cwt). Smaller supplies of market-ready cattle and higher beef prices continued to support the market. Feeder cattle prices reported by Texas auctions were mostly steady to $7 higher for much of the week, but turned mostly steady to $3 lower on Friday and Saturday. Texas direct feeder cattle sales were mostly steady. The same factors continue to support the market as in past weeks — higher fed cattle, reduced feeder supplies and lower grain prices. However, lower feeder cattle futures and reduced buying interest at the current higher prices also pressured markets. Wholesale beef values were higher. Beef export sales for the three weeks ending Oct. 24 were up 71 percent from the previous three-week period, but remained about 12 percent behind where they were at this time last year. Cotton prices were lower as the advancing harvest continues to put additional supplies of new-crop cotton on the market. Export sales were more than three times higher than in the previous three-week period, but shipments were down 29 percent. Wheat prices were lower due to continued favorable weather in the U.S., a higher global production estimate and weak U.S. exports. Weekly export sales were down 38 percent from the previous period, and shipments were 40 percent lower. Corn and grain sorghum prices also declined as the advancing harvest continues to put more new-crop grain on the market. Ongoing reports of better than expected yields and speculation that USDA will raise its production forecast also added to the pressure. Weekly corn export sales were up 65 percent from the previous three weeks and much higher than expected. Mexico was the largest buyer. Futures markets were higher for lumber, but lower for feeder cattle, fed cattle, cotton, corn and wheat. Most of the state recorded rainfall during the week, with the heaviest totals east of a line from Texarkana to San Antonio to Victoria. Many locations in that area received two or more inches or rain with some locally-heavy rainfall totals in excess of 10 inches. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

(Please note: Next week’s market recap will be issued on Tuesday, Nov. 12, due to the Veterans’ Day holiday on Monday.)

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 Oct. 29, 2013

For the week ending Oct. 26, 2013, Texas fed cattle cash prices set a new record high of $132.30 per hundredweight (cwt). Shrinking supplies of market-ready cattle were the primary reason for the increase. Feeder cattle prices reported by Texas auctions were steady to $10 higher per cwt as the higher fed cattle market worked its way down the supply chain. Grain prices were much lower than they were at this time last year, and smaller feeder supplies also contributed to the increase. Texas direct feeder cattle sales were mostly steady. Wholesale beef values were higher, but still well below the records set in May. Beef export sales for the week ending Oct. 3, the most recent available, were lower compared to both the previous week and the prior four-week average, but shipments were higher. Cotton prices were lower as the advancing harvest continues to put additional supplies of new-crop cotton on the market. Weak export sales, which were down 32 percent from the previous week and 52 percent lower than the prior four-week average, contributed to the decline. Wheat prices were lower due to favorable weather in the U.S., beneficial rains in areas of Argentina and the possibility of higher exports from India. Weekly export sales were down from both the previous week and the average, but still more than double the average needed to meet USDA projections for the marketing year. Corn prices also were lower as the advancing harvest continues to put more new-crop grain on the market. Ongoing reports of better than expected yields also added to the pressure. Weekly corn export sales were up 73 percent from the previous week, 75 higher than the prior four-week average and about four times higher than the weekly average needed to meet projections for the marketing year. Most of the state east of a line from Childress to Rio Grande City recorded rainfall during the week, with the heaviest totals in the Coastal Bend, east of I-35 and north of I-10. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 for Oct. 22, 2013

For the week ending Oct. 19, 2013, feeder cattle prices reported by Texas auctions were steady to $10 higher per hundredweight (cwt). Smaller cattle supplies, lower corn prices and improved prospects for fall and winter grazing continued to support the market. The Texas direct feeder cattle report did not include a market trend, but the average price for 650-850 pound steers for current delivery was up $7.58 from the last report on Sept. 27. Feeder cattle futures were lower in response to higher grain futures. Fed cattle cash prices were up $1 per cwt, and fed cattle futures followed the cash market higher. USDA resumed its daily cotton and grain price reports on Thursday; however, comparisons to last week are not available. Cotton futures were lower, as the advancing harvest put increasing supplies of new-crop cotton on the market. Reports of higher than expected yields in the Southeast and Mississippi Delta, and news of lower Chinese imports contributed to the decline. Wheat futures prices were higher after Argentina reported that its production will likely be much lower than expected. The news offset the impact of more favorable growing weather in the U.S. and the Black Sea region, as well as news that India may increase its wheat exports. Corn futures prices followed wheat futures prices in an upward trend, despite ongoing reports of higher than expected yields and favorable harvest weather in many areas. Most of the state recorded rainfall last week with the heaviest totals, with some reports in excess of two inches, in Southeast Texas and in a band from north of Del Rio to Texarkana. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

* Reported in the Texas Cattle Feeders Association daily volume and price summary. 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 Oct. 15, 2013

For the week ending Oct. 12, 2013, most of the cash prices normally covered by this recap remained unavailable because of the partial federal government shutdown. Feeder cattle prices reported by Texas auctions were steady to $8 higher per hundredweight (cwt). Smaller cattle supplies and lower corn prices continued to support the market. Fed cattle prices were up $2 per cwt from the previous week, according to the Texas Cattle Feeders Association. Feeder cattle and fed cattle futures prices were both higher for the week. Cotton futures were lower because of the drop in equities markets early in the week and forecasts for larger world supplies. The International Cotton Advisory Committee lowered its world production estimate, but also reduced its estimate of mill usage, resulting in higher than projected world supplies. Wheat futures prices were higher, as expectations for smaller production this year in Argentina and the Black Sea region are expected to boost worldwide demand for U.S. wheat. Corn futures prices were lower due to ongoing reports of higher than expected yields, favorable harvest weather in many areas and reports of a draft proposal by the U.S. Environmental Protection Agency that would reduce the ethanol usage mandates for 2013 and 2014. Rain fell statewide during the week with totals in excess of two inches common in Central, East and Southwest Texas, as well as on the Southern Low Plains. Some locations received eight inches or more of rain, with much of that falling on Saturday and Sunday. The weekly USDA NASS “Texas Crop Progress and Condition” report is not available.

* Reported in the Texas Cattle Feeders Association daily volume and price summary.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Oct. 8, 2013

For the week ending Oct. 5, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt), with a few as much as $10 higher. Many of the cash prices usually covered by this recap are unavailable because of the partial federal government shutdown. Texas direct feeder cattle sales were unavailable, and the Oklahoma City National Stockyards were $3 to $6 higher. Buyers continue to discount bawling, unweaned offerings, but all classes are attracting attention thanks to tight cattle supplies and corn prices that are much lower than they were at this time last year. The nearby corn futures contract is at its lowest level since August 2010 in anticipation of a record-large harvest this fall. Fed cattle prices were unchanged from the previous week, according to the Texas Cattle Feeders Association. Cash prices and export data are not available for beef, cotton, grain sorghum, corn or wheat. Futures markets were higher for feeder cattle, cotton and wheat, but lower for fed cattle, corn and lumber. Much of the state east of a line from Del Rio to Vernon recorded rainfall during the week, with totals of one-half inch or more common in South Central Texas and along the Upper Coast. The weekly USDA NASS “Texas Crop Progress and Condition” report is not available.

* Reported in the Texas Cattle Feeders Association daily volume and price summary.
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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Oct. 1, 2013

For the week ending Sept. 28, 2013, feeder cattle prices reported by Texas auctions were steady to as much as $10 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were steady to $5 higher, and the Oklahoma City National Stockyards were steady to $2 higher. Recent rains that have boosted prospects for fall and winter grazing, as well as smaller supplies and lower grain prices continued to support the feeder cattle market. Fed cattle prices were $2 per cwt higher than a week ago. Wholesale beef prices were modestly higher. Weekly beef export sales were down 45 percent from the previous week and 52 percent higher than the prior four-week average. Cumulative sales for the year are down 14 percent from a year ago. Cotton prices were higher after China said its crop will be smaller than earlier forecasts, and reports of heavy rains and damaging floods in India. Export sales were down 36 percent from the previous week, 43 percent lower than the prior four-week average and about half the average needed to meet USDA projections for the marketing year. Corn and grain sorghum prices were lower last week as the advancing harvest added to new-crop supplies, with reports of better than expected yields in some areas. Weekly corn export sales were up 46 percent from the previous week, but shipments were down eight percent. Wheat prices were higher because of potential frost damage in Argentina and expectations for continued strong export demand. Wheat exports were down 12 percent from a week ago, but one percent higher than the prior four-week average and nearly double the weekly average needed to meet projections for the marketing year. Futures markets were higher for feeder cattle, fed cattle, cotton, wheat and corn, but lower for lumber. Rain fell statewide last week with the largest totals of five inches or more in parts of Central, South and East Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, September 24, 2013

For the week ending Sept. 21, 2013, feeder cattle prices reported by Texas auctions were $5 lower to $3 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $3 higher and the Oklahoma City National Stockyards were mostly steady to $5 higher. Several locations noted improved demand, but said buyers continue to discount unweaned calves compared to their weaned counterparts. Fed cattle prices were $1 per cwt higher than a week ago. Wholesale beef prices were lower. Weekly beef export sales were up three percent from the previous week and seven percent higher than the prior four-week average. Japan, Mexico and Hong Kong were the leading buyers. Cotton prices were modestly lower, with export sales down 23 percent from the previous week and 8 percent lower than the prior four-week average. Cotton shipments were also lower. Corn and grain sorghum prices declined last week. Weekly corn export sales totaled 437,400 metric tons, with Mexico, Japan and China as the leading buyers. Shipments during the week totaled nearly 519,000 metric tons. Wheat prices were higher with wheat export sales up 30 percent from a week ago and 25 percent higher than the prior four-week average. Shipments totaled 1.2 million metric tons, the highest volume so far this marketing year and 35 percent higher than the prior four-week average. China, Brazil and Japan were the primary destinations. Futures markets were higher for feeder cattle, wheat, corn and lumber, but lower for fed cattle and cotton. Rain fell statewide last week with the heaviest totals in Southeast Texas, South Texas, parts of the Panhandle and in a band from near Sanderson to Texarkana. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Sept. 17, 2013

For the week ending Sept. 14, 2013, feeder cattle prices reported by Texas auctions were $8 lower to $6 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were steady and the Oklahoma City National Stockyards were mostly steady to $1 higher. Several locations noted significant discounts on unweaned calves compared to their weaned counterparts. Tight supplies continue to support feeder cattle prices, but volatile grain markets have created more uncertainty for feeder cattle buyers. Fed cattle prices were steady. Wholesale beef prices were lower. Weekly beef export sales were up six percent from last week and eight percent higher than the prior four-week average. Cumulative sales for the year are down 15.1 percent from this time a year ago. Cotton prices were higher after USDA’s production forecast and projected ending cotton stocks came in lower than expected. Exports were also supportive with weekly sales 53 percent higher than the prior four-week average and shipments up eight percent from the previous week. Corn and grain sorghum prices were lower following a USDA forecast showing a record-large corn crop and higher end-of-year supplies. Weekly corn export sales for the week for the current marketing year were lower than the average needed to meet USDA projections and sales for the just-completed 2012/13 marketing year were again negative as cancellations outweighed new commitments. Wheat prices were lower due to large world supplies and export competition from lower-priced overseas sources. Wheat export sales were down 19 percent from a week ago and one percent below the prior four-week average, but higher than the weekly average needed to meet USDA projections for the marketing year. Futures markets were higher for feeder cattle, cotton and lumber, but lower for fed cattle, wheat and corn. Parts of South Texas and the Panhandle received one-half inch or more of rain during the week, while other areas of the state recorded little or no rainfall. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 for Sept. 9, 2013

For the week ending Sept. 7, 2013, feeder cattle prices reported by Texas auctions were $4 lower to $3 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $3 higher. Fluctuating grain prices and the possibility this year’s corn crop might be smaller than previously predicted has introduced more uncertainty for feeder cattle buyers. This also has resulted in some instances of lower prices in spite of the shrinking supply. Fed cattle prices were steady. Wholesale beef prices were lower. Weekly beef export sales were down 24 percent from the previous week, but 17 percent higher than the prior four-week average. Cumulative sales for the year are down nearly 16 percent from last year. Cotton prices remained unchanged, as a decline in U.S. crop conditions and strong export sales were offset by ongoing uncertainty about Chinese cotton policies. Cotton export sales were more than double the previous week and nearly three times higher than the prior four-week average. China, Turkey and Thailand were the largest buyers. Corn and grain sorghum prices were lower due to pressure from increasing new-crop supplies, better than expected yields in parts of the South and weak exports. Weekly corn export sales for the current marketing year were negative for the third time in four weeks as cancellations outweighed new sales. Sales for the next marketing year were less than half the previous week and down 39 percent from the prior four-week average. Wheat prices were higher mostly because of strong export sales, up 21 percent from the previous week and 18 percent higher than the prior four-week average. Shipments totaled nearly 1 million metric tons, the highest weekly total for the marketing year. Futures markets were higher for fed cattle, wheat and lumber, but lower for feeder cattle, cotton and corn. One-half inch or more of rain fell during the week in much of the area south and east of a line from Eagle Pass to Brady to Lufkin. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

                   








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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Sept. 4, 2013

For the week ending Aug. 31, 2013, feeder cattle prices reported by Texas auctions were $5 lower to $6 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were mostly steady, and the Oklahoma City National Stockyards were steady to $3 lower. Fluctuations in grain markets spilled over into the feeder market. Both commodities are major sources of input costs for cattle feeders, so when one goes up, the other tends to go down. However, tight feeder cattle supplies from a smaller cow herd continue to support the market, pushing prices higher at some locations and at least limiting the declines at others. Wholesale beef prices were lower. Weekly beef export sales were up 45 percent from the previous week and nearly double the prior four-week average. Cotton prices were modestly lower due to an improvement in U.S. crop conditions ratings and ongoing uncertainty about Chinese cotton policies. Weekly cotton export sales were down 15 percent from last week, but 47 percent higher than the prior four-week average. Corn and grain sorghum prices were near unchanged. Weather forecasts for hot, dry conditions in the western Corn Belt and a lower production forecast from a Midwest crop tour were offset by forecasts for rain in the eastern Corn Belt. Weekly corn export shipments were nearly double the previous week and one percent higher than the prior four-week average. Wheat prices were higher due to a lower production forecast for Australia and supportive export sales. Wheat export sales for the week were up 12 percent from the previous week and well above the weekly total needed to meet USDA marketing year projections, but down four percent from the previous four-week average. Futures markets were higher for feeder cattle, wheat and lumber, but lower for fed cattle, cotton and corn. One-half inch or more of rain fell during the week in a band from near Del Rio to Ft. Worth, and in parts of South and South-Central Texas. The rest of the state received little or no rain. Weekly updates on agricultural weather and crop conditions are available in the USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

 

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Aug. 27, 2013

For the week ending Aug. 24, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $8 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $2 higher, and the Oklahoma City National Stockyards were steady to $3 higher. Tight supplies, lower grain prices than at this time last year and improved fed cattle prices continued to support the market. Fed cattle cash prices were steady. Wholesale beef prices were higher for Choice, but lower for Select-grade offerings. Weekly beef export sales were up 26 percent from the previous week and 34 percent higher than the prior four-week average, but shipments were lower. Cotton prices were lower mostly due to speculative selling of the underlying futures contract. U.S. production will be lower this year; however, increased production in India, large world stocks and uncertainty about Chinese cotton policies also pressured the market. Weekly cotton export sales were more than double both the previous week and the prior four-week average. Shipments were down 14 percent from the previous week, but up 52 percent from the average. Corn prices were higher on forecasts for warmer, drier weather in the Corn Belt. Corn export sales were higher than in the previous week, but down 31 percent from the prior four-week average and well below the weekly total needed to meet USDA projections for the marketing year. Wheat prices declined due to larger production forecasts for Australia and Canada and continued strong export competition from other suppliers. Wheat export sales for the week were up one percent from the previous week and higher than the weekly average needed to meet USDA projections for the marketing year, but were down 20 percent from the prior four-week average. Futures markets were higher for feeder cattle and corn, but lower for fed cattle, cotton wheat and lumber. Most of the state recorded little or no rainfall during the week, though one-half inch or more of rain fell in scattered locations statewide. The heaviest amounts were reported in South Texas and along the coast. Weekly updates on agricultural weather and crop conditions are available in the USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Aug. 20, 2013

For the week ending Aug. 17, 2013, feeder cattle prices reported by Texas auctions were steady to $7 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $3 higher, and the Oklahoma City National Stockyards were $3 to $5 higher. The likelihood of lower grain prices this fall, along with higher fed cattle and beef prices supported the market. Fed cattle cash prices were $2 higher per cwt, and wholesale beef prices were higher. Beef export sales were up 43 percent from the previous week and one percent higher than the prior four-week average. Weekly shipments were the highest for any one week so far this year, but cumulative shipments are still down 17.5 percent from the same period a year ago. Cotton prices were higher after USDA’s production forecast and projected ending stocks came in lower than expected and cotton condition ratings declined. Export sales for the first full week of the cotton marketing year totaled 38,500 bales, which is up 15 percent from the previous week and two percent higher than the prior four-week average. Corn prices were higher following a lower than expected USDA production forecast and lower-projected ending supplies. Corn export sales were a negative 59,100 metric tons as cancellations out-weighed new sales. Wheat prices followed other grains higher, but the increase was limited by large production in Europe and strong export competition from lower-cost suppliers. Weekly wheat export sales were down 33 percent from the previous week and 34 percent lower than the prior four-week average. Futures markets for feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. Much of the state from the Upper Coast to the South Plains and Panhandle received one-half inch or more of rain during the week, while other areas reported little or no rainfall. For the weekly update on agricultural weather and crop conditions from the USDA NASS “Texas Crop Progress and Condition” report, 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, August 13, 2013

For the week ending Aug. 10, 2013, feeder cattle prices reported by Texas auctions were steady to $7 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $4 higher. The Oklahoma City National Stockyards were $1 to $3 higher. Improved pasture conditions in some areas and prospects for lower grain prices this fall once again supported prices, especially for lighter-weight cattle. Fed cattle cash prices were $2 higher per cwt. Wholesale beef prices were higher. Cotton prices were higher for the week after China said it would continue buying its surplus domestic production at prices well above world averages. Concerns about hot, dry conditions in much of Texas and excess moisture in parts of the southeastern U.S. also added to the increase. Cotton export shipments ended the marketing year 11 percent higher than the previous year, but 226,000 bales short of USDA projections. Wheat prices were lower, primarily due to weak export demand and higher production estimates from France and Romania. Brazil and China remain steady customers for U.S. wheat, but most other importers are tapping into cheaper supplies from Australia, Western Europe and the Black Sea region. Weekly wheat export sales were up 22 percent from the previous week, but down 22 percent from the prior four-week average. Corn prices were again lower as favorable weather in the Corn Belt continues to improve the prospects for a large 2013 crop. Corn export sales were more than double the previous week and 16 percent above the average. As for futures markets, feeder cattle, fed cattle, cotton and lumber were higher, but wheat and corn were lower. Scattered locations statewide received one-half inch or more of rain during the week, with the heaviest totals in the upper Panhandle and parts of West Texas. Weekly updates on agricultural weather and crop conditions are available in the USDA-NASS “Texas Crop Progress and Condition” report; 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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, Aug. 6, 2013

For the week ending August 3, 2013, feeder cattle prices reported by Texas auctions were steady to $8 higher per hundredweight (cwt) with a few reporting prices as much as $15 higher. Texas direct feeder cattle sales were steady to $3 higher. The Oklahoma City National Stockyards were steady to $4 higher on feeder cattle and $3 to $8 higher on calves. Improved pasture conditions in some areas and prospects for lower grain prices this fall once again supported prices, especially for lighter-weight cattle. However, deeply negative cattle feeding margins continued to limit the gains. Fed cattle cash prices were steady. Wholesale beef prices were near unchanged for Choice-grade offerings and lower for Select. Cotton prices were unchanged for the week as concerns about the weather — too dry in much of Texas and too wet in parts of the Southeast — were offset by worries about Chinese demand and weak exports. Cotton export sales were down from both the previous week and prior four-week average, and well below the level needed to meet marketing year projections. Wheat prices were higher due to strong Chinese demand, concerns about the quality of the French crop and indications that world production may be lower than current forecasts. Weekly wheat export sales were down 10 percent from the previous week and 36 percent lower than the prior four-week average, but still higher than the weekly average needed to meet USDA projections for the marketing year. Corn prices were again lower as favorable weather in the Corn Belt continues to improve the prospects for a large 2013 crop. Corn export sales were up from the previous week, but lower than the average needed to meet marketing year projections. As for futures markets, feeder cattle and wheat were higher, but fed cattle, cotton, corn and lumber were lower. An inch or more of rain fell during the week in parts of West Texas, the upper Panhandle and isolated locations in East Texas. However, the rest of the state recorded little or no rainfall. Click here for the weekly USDA-NASS “Texas Crop Progress and Condition” report.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 July 30, 2013

For the week ending July 27, 2013, feeder cattle prices reported by Texas auctions were steady to $6 higher per hundredweight (cwt) with a few locations reporting as much as $10 higher. Texas direct feeder cattle sales were steady to $2 higher. The Oklahoma City National Stockyards were steady to $3 lower on steers, but steady to $3 higher on heifers. Somewhat better pasture conditions following recent rains and prospects for lower grain prices this fall supported the markets, especially for lighter-weight cattle. However, deeply negative cattle feeding margins continued to limit the gains. Fed cattle cash prices were steady, and wholesale beef prices were lower. Cotton prices were lower due to beneficial rains in major Texas growing areas and lower weekly export sales, which will likely leave the total for the soon-to-end marketing year short of USDA projections. Wheat prices were lower as forecasts of higher production in Europe and strong export competition from lower-cost suppliers in the Black Sea region continued to pressure the market. Weekly wheat export sales were down 34 percent from the previous week and 30 percent lower than the prior four-week average. However, the total was still nearly double the weekly average needed to meet USDA projections for the marketing year. Corn prices were lower as beneficial weather in the Corn Belt continues to improve the prospects for a large 2013 crop. Corn export data were mixed as cancellations resulted in net sales of a negative 27,900 metric tons; however, shipments were up 41 percent from the previous week and 19 percent higher than the prior four-week average. As for future markets, feeder cattle were modestly higher, but fed cattle, cotton, wheat, corn and lumber were lower. Most of the state recorded rainfall last week with totals of less than one-half inch in many areas, but as much as an inch or more reported in scattered locations statewide. Click here for weekly updates on agricultural weather and crop conditions from the USDA-NASS “Texas Crop Progress and Condition” report.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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 July 23, 2013

For the week ending July 20, 2013, feeder cattle prices reported by Texas auctions were mostly $3 lower to $4 higher per hundredweight (cwt) early in the week, and steady to $8 higher later in the week. Texas direct feeder cattle sales were unevenly steady. Prices at the Oklahoma City National Stockyards were steady to $2 lower on feeders, but steady to $4 higher on calves. Widespread rains slowed cattle movement resulting in very light receipts at many locations. Limited feeder cattle supplies, a dip in grain prices and prospects for improved pasture conditions supported the market. However, deeply negative cattle feeding margins continued to limit the gains. Fed cattle cash prices were steady, and wholesale beef prices were lower for choice-grade offerings and higher for select. Cotton prices were higher based on stronger exports and concerns that supplies will become very tight before cotton from this year’s harvest is available. Weekly cotton export sales were 54 percent higher than the previous week and up four percent from the prior four-week average, but much below the weekly average needed to meet USDA marketing year projections. Wheat prices were lower because of increasing harvest-time supplies, prospects for higher production in Europe and lower-priced export offerings from Europe and Russia. Weekly wheat export sales were down from last week’s total, but still 23 percent higher than the prior four-week average. Corn prices were slightly lower as prospects for a large 2013 crop continued to pressure the market. Corn export sales were down 61 percent from the previous week and down 44 percent from the prior four-week average. They also were well below the average needed to meet projections for the soon-to-end marketing year. As for futures markets, feeder cattle, fed cattle, cotton and lumber were higher, but wheat and corn were lower. Beneficial rain fell statewide during the week with totals ranging from a trace to more than five inches in some locations. Click here for weekly updates on agricultural weather and crop conditions, available in the USDA-NASS “Texas Crop Progress and Condition” report.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, July 16, 2013

For the week ending July 13, 2013, feeder cattle prices reported by Texas auctions were mostly steady to as much as $8 higher per hundredweight (cwt) through Thursday, though some weakness was noted on lighter-weight calves. Between Friday and Saturday, prices were reported steady to $5 lower as larger sale volumes allowed buyers to be more selective. Texas direct feeder cattle sales were $1 to $5 higher, and prices at the Oklahoma City National Stockyards were steady to $5 higher. Prices were supported by the limited feeder cattle supplies and prospects for cheaper feed grains once this year’s crop begins to come in. However, deeply negative cattle feeding margins and dry pastures in many areas continued to limit the gains. Fed cattle cash prices were steady at $119 per cwt, and wholesale beef prices were lower. Cotton prices were lower based on weak exports and higher projected U.S. and world ending stocks. Weekly cotton export sales were down five percent from the previous week and half the prior four-week average. Shipments were 35 percent lower than a week earlier and 32 percent lower than the average. Wheat prices were higher after the projected carryover came in much lower than expected. Weekly wheat export sales were also supportive, 2.5 times higher than the previous week and double the prior four-week average. Shipments were also higher. Corn prices were lower as prospects for a large 2013 crop continued to pressure the market. Corn export sales were up 68 percent from the previous week and double the prior four-week average; however, shipments were 25 percent lower for the week and unchanged from the average. As for futures markets, cotton, wheat and corn were higher, and fed cattle, feeder cattle and lumber were lower. Scattered locations in South, East and North Texas recorded a half inch or more of rain last week, but little significant rainfall was reported in the rest of the state. The Drought Monitor showed 99 percent of the state in some degree of abnormal dryness or drought. Weekly updates on agricultural weather and crop conditions are available in the USDA-NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

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

Agriculural Market Summary, July 9, 2013

For the week ending July 6, 2013, a feeder cattle price trend could not be established as most Texas auctions were closed in observance of the Independence Day holiday. Texas direct feeder cattle sales were $3 to $4 higher per hundredweight (cwt), and prices at the Oklahoma City National Stockyards were up $3 to $5. Fed cattle cash prices were $1 per cwt lower. Wholesale beef prices were again lower for Choice cuts, but higher for Select-grade offerings. Cotton cash prices were higher due to the stronger equity market and ongoing concerns about dry conditions in Texas. However, gains were limited by weak exports and improved crop conditions in some areas. Weekly cotton export sales were down 39 percent from the previous week and 67 percent lower than the prior four-week average. Wheat prices declined under pressure from increasing harvest-time supplies and better than expected wheat yields in some areas. Weekly wheat export sales were down from the previous week’s total; however, actual shipments were 43 percent higher. Corn and grain sorghum prices were lower as prospects for a large 2013 crop continued to pressure the market. Corn export sales were down 31 percent from the previous week, but up 42 percent from the prior four-week average. Shipments were more than double the previous week and up 33 percent from the prior four-week average. As for future markets, feeder cattle, fed cattle, cotton, corn, wheat and lumber were higher. Much of the state recorded rainfall during the week, but only a few isolated and widely-scattered locations reported totals of one-half inch or more. Information on agricultural weather and crop conditions is available in the weekly USDA-NASS “Texas Crop Progress and Condition” report at www.nass.usda.gov/Publications/State_Crop_Progress_and_Condition/current/current_tx.rtf.

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. Timber prices are from the Texas A&M Forest Service, bimonthly “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, July 2, 2013

For the week ending June 29, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to the previous week. However, a few were as much as $8 higher on a portion of their offerings, and some were $3 lower on fleshy calves and plainer feeder cattle. Texas direct feeder cattle sales were steady to $4 higher, and prices at the Oklahoma City National Stockyards were up $1 to $4. Shrinking feeder cattle supplies, higher feeder cattle futures, improved pasture conditions in some areas and high beef prices helped push the market higher, while ongoing negative cattle feeding margins limited the increase. Fed cattle cash prices were unchanged from a week ago. Wholesale beef prices were lower for Choice cuts, but higher for Select-grade offerings. Cotton prices were higher due to stronger equity markets and ongoing concerns about dry conditions in Texas. Weekly cotton export sales were well below both the previous week and prior four-week average. Wheat prices declined amid increasing harvest-time supplies and better than expected wheat yields in some areas. Weekly wheat exports were nearly double the previous week’s total and much higher than the average needed to meet projections for the marketing year. Corn and grain sorghum prices were higher because of lower than expected supplies on hand, strong weekly export sales and higher ethanol production the previous week. Corn export sales were nearly three times higher than the prior week, with cumulative sales now higher than the USDA projected total for the marketing year. As for futures markets, feeder cattle, corn and lumber were higher, while fed cattle, cotton and wheat were lower. Southeast Texas and most of the state west of a line from Victoria to Fort Worth recorded rainfall during the week with amounts ranging from a trace to more than one-half inch in parts of South and West-Central Texas, the Trans-Pecos and western Panhandle. Information on agricultural weather and crop condition is available in the weekly USDA-NASS “Texas Crop Progress and Condition” report at www.nass.usda.gov/Publications/State_Crop_Progress_and_Condition/current/current_tx.rtf.

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