TDA Market Recap, April 9, 2012

For the week ending April 7, feeder cattle price trends at Texas auctions covered by USDA Market News were mostly steady to $4 lower per hundredweight (cwt), though one location reported 600-700 pound steers $2-$3 higher. The Texas direct feeder cattle trade was steady to weak with few comparable sales for immediate delivery. Oklahoma City was $4 to $8 lower on feeder cattle and steady to $15 lower on calves. Fed cattle cash prices were $3 lower per cwt from the previous week following continued declines in beef values.

Cotton cash prices were lower as ample global supplies and weak demand continue to pressure the market. Net export sales were negative following large cancellations by China and Brazil, but shipments remained strong at more than 422,000 bales. Wheat prices were lower due to large world supplies and improved weather on the U.S. Plains. Corn and grain sorghum prices were higher following a strong export sales report.

As for futures markets, corn and lumber were higher, but feeder cattle, fed cattle, cotton and wheat were lower.

Much of the state recorded precipitation during the week with totals of 2 inches or more falling in parts of East Texas, North Texas, along the coast and south of Big Spring.

Winter wheat was reported in mostly good to fair condition, though in parts of the High Plains dry land wheat remains stressed by a lack of moisture. The crop is 35 percent headed, compared to 15 percent on average by this date. Cotton, corn, grain sorghum and rice land preparations and planting continued. Corn was 52 percent planted and 40 percent emerged, both slightly behind normal. Grain sorghum planting was 46 percent complete compared to 50 percent on average. Cotton planting was 15 percent complete, ahead of the normal 10 percent. Rice was 35 percent planted. P

astures on the High Plains need additional moisture, but were rated in mostly good to fair condition elsewhere.

   

Week Ending

Previous

Previous

Texas Cash Markets:  

   April 7, 2012

              Week            Year
         
Feeder Steers ($/cwt)

187.68

196.23

154.15

Fed Cattle ($/cwt)

121.82

124.80

122.72

Slaughter Lambs ($/cwt)

175.00

183.00

209.00

Slaughter Goats ($/cwt)

217.00

232.00

233.50

Cotton (¢/lb)

82.15

87.15

197.88

Grain Sorghum ($/cwt)

11.39

11.24

 12.73

Wheat ($/bu)

6.01

6.36

8.14

Corn ($/bu)

6.84

6.79

7.61

Oranges ($/box)

11.30

11.80

11.05

Cabbage ($/50 lbs)

4.75

4.50

 5.50

Onions ($/50 lbs)

10.00

no quote

5.75

   

Futures Markets:  

   

Feeder Cattle ($/cwt)

148.72

148.82

134.60

Fed Cattle ($/cwt)

118.32

120.45

118.82

Cotton (¢/lb)

88.54

93.52

202.97

Wheat ($/bu)

6.62

6.98

9.33

Corn ($/bu)

6.58

6.44

7.68

Lumber ($/1000 bd ft)

266.90

260.90

257.20

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 www.TexasAgriculture.gov.

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