TDA Market Recap, April 16, 2012

Source: Texas Department of Agriculture

For the week ending April 14, feeder cattle price trends at Texas auctions covered by USDA Market News were mostly steady to $3 higher per hundredweight (cwt), with a few to $5 higher. Several locations noted light receipts last week because of the Easter holiday. The Texas direct feeder cattle trade was $2 to $3 lower with limited comparable sales for immediate delivery as many sellers reportedly passed on the lower bids. Oklahoma City was steady to $2 lower with light receipts. Fed cattle cash prices were near unchanged from the previous week as beef prices fluctuated, but ended the week unchanged on Choice and higher on Select-grade beef.

Cotton cash prices were higher on projections for tighter domestic supplies, strong export shipments and sales that have already equaled USDA projections for the marketing year.

Grain prices declined from the previous week under pressure from higher than expected corn stocks, good planting conditions, rapid progress of spring crops and favorable weather in U.S. and European wheat-growing areas.

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

Most of the state recorded rainfall during the week with the heaviest amounts along the coast, in East Texas, on the High Plains and in parts of the Trans-Pecos region. Crop condition and progress information were not available from USDA for this week’s report after a small fire forced closure of USDA headquarters offices in Washington, DC. The closure delayed the publication of the reports.

   

Week Ending

Previous

Previous

Texas Cash Markets:  

   April 14, 2012

              Week            Year
         
Feeder Steers ($/cwt)

184.06

187.68

150.07

Fed Cattle ($/cwt)

121.67

121.82

118.96

Slaughter Lambs ($/cwt)

182.00

175.00

176.00

Slaughter Goats ($/cwt)

230.50

217.00

214.50

Cotton (¢/lb)

85.65

82.15

178.13

Grain Sorghum ($/cwt)

10.88

11.39

 12.49

Wheat ($/bu)

5.84

6.01

7.45

Corn ($/bu)

6.54

6.84

7.35

Oranges ($/box)

10.85

11.30

no quote

Cabbage ($/50 lbs)

5.25

4.75

 6.75

Onions ($/50 lbs)

13.00

10.00

7.00

   

Pine Saw Logs $/1000 bd ft

168.64

182.67

166.49

Pine Pulpwood $/ton

5.41

6.26

6.26

   

Futures Markets:  

   

Feeder Cattle ($/cwt)

150.52

148.72

132.15

Fed Cattle ($/cwt)

120.52

118.32

117.40

Cotton (¢/lb)

92.08

88.54

195.52

Wheat ($/bu)

6.43

6.62

8.66

Corn ($/bu)

6.29

6.58

7.42

Lumber ($/1000 bd ft)

266.70

266.90

250.30

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.

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