Agriculture Market Summary Jan. 29, 2013

For the week ending Jan. 26, 2013, feeder cattle prices reported by Texas auctions were $8 lower to $8 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $6 lower and the Oklahoma City National Stockyards were steady to $5 lower. Lower fed cattle prices and continued high feed costs pressured the feeder market. Fed cattle cash prices were $2.50 lower per cwt and wholesale beef prices were lower as Cargill’s January 17 announcement that it will idle its Plainview, TX, cattle-processing plant continued to impact markets. Cotton prices were higher amid strong export sales and predictions of sharply lower U.S. cotton plantings in 2013. Wheat prices followed other grains lower in spite of improved exports sales and ongoing drought in U.S. winter wheat areas. Corn prices were lower due to weak export sales. However, tight domestic supplies limited the decline. . As for futures markets, feeder cattle, fed cattle and cotton were higher, but wheat, corn and lumber were lower. Little rain fell anywhere in the state during the week with scattered showers in a few areas totaling one-tenth of an inch or less. 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 February 19.

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 Jan. 24, 2013

For the week ending Jan. 19, 2013, feeder cattle prices reported by Texas auctions were $5 lower to $10 higher per hundredweight (cwt) compared to the previous sale. Texas direct feeder cattle sales were $2 to $4 lower. The Oklahoma City National Stockyards were steady to $5 lower. Heavier-weight cattle experienced the biggest declines as lower fed cattle prices, falling cattle futures and higher grain prices pulled feedlot margins even lower. Fed cattle cash prices were more than $2 lower per cwt and wholesale beef prices were lower. Cargill’s announcement that it will idle its Plainview, TX, cattle-processing plant was widely cited as a key reason for the decline in cattle prices. Cotton prices were higher following a strong weekly export sales report. Grain prices were higher as markets continued to adjust to the previous week’s bullish USDA reports. Export sales were also stronger than expected, though there were lingering concerns that exports for the marketing year would not meet current projections. As for futures markets, cotton, wheat and corn were higher, but feeder cattle, fed cattle and lumber were lower. Less than one-half-inch of rain fell in parts of East Texas during the week as most of the state recorded little or no precipitation. Crop progress and condition information are not available since the weekly USDA NASS crop progress report has been suspended for the season. It is scheduled to resume on February 19.

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 Jan 15, 2013

For the week ending Jan. 11, 2013, feeder cattle prices reported by Texas auctions were mostly steady to as much as $10 higher per hundredweight (cwt) compared to the previous sale. Texas direct feeder cattle sales were steady to $2 lower. The Oklahoma City National Stockyards were $2 to $10 higher. Shrinking numbers of available feeder cattle continue to support the market, and recent rains boosted grazing prospects. However, high grain prices and negative feedlot margins limited the increase. Fed cattle cash prices were more than $1 lower per cwt as increased numbers of finished cattle were offered for sale following the holiday lull. Wholesale Choice beef prices were near unchanged and Select-grade offerings were higher. Cotton prices ended the week lower after USDA raised its global projected ending stocks estimate. Corn and grain sorghum prices were higher as USDA reported lower than expected December 1 stocks on hand and reduced its projected ending stocks estimate. Wheat was slightly higher for the week. As for futures markets, cotton, wheat, corn and lumber were higher, but feeder cattle and fed cattle were lower. Almost the entire state recorded precipitation during the week, with the exception of the western end of the Trans-Pecos region. Rainfall totals in excess of two inches were reported over a broad area of Central, North and East Texas. 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 February 19.

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 Jan. 8, 2013

For the week ending Jan. 4, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $4 higher per hundredweight (cwt) compared to pre-holiday sales. Texas direct feeder cattle sales were firm to $1 higher. The Oklahoma City National Stockyards were closed last week for the New Year’s holiday. Fed cattle cash prices were $1 higher per cwt and beef prices were higher. Cotton, grain sorghum, wheat and corn prices were lower compared to pre-holiday levels. As for futures markets, feeder cattle, fed cattle and lumber were higher, but cotton, wheat and corn were lower. Parts of South and East Texas recorded a half-inch or more of rain during the week with the heaviest accumulations along the Upper Coast and in the southeastern corner 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 Feb. 19.

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.