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.
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