TDA Market Recap, April 14, 2014

Texas Department of Agriculture

For the week ending April 12, 2014, feeder cattle prices reported by Texas auctions were mostly steady to $6 higher per hundredweight (cwt) compared to their previous sale. However, a few locations also noted lower prices, especially on feeders weighing 700 pounds or more. Texas direct feeder cattle prices were steady on cattle weighing less than 800 pounds, but lower on heavier weights. Tight supplies and strong demand continue to support the feeder cattle market. Read more…

TDA Market Recap, April 7, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending April 5, 2014, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to their previous sale. Some locations were as much as $15 higher, but a few were $4 lower on a portion of their offerings. Texas direct feeder cattle prices were $1 to $4 higher. Tight supplies and strong demand continue to support the feeder cattle market. Fed cattle cash prices were $2 lower at $148 per cwt. Wholesale beef values were lower. Beef export sales for the week totaled 13,800 metric tons (MT), up four percent from the previous week, but down six percent from the prior four-week average. Export shipments of 12,200 MT were up five percent from the previous week, but down four percent from the average.

Cotton prices were lower for the week, primarily because of lower prices for the cotton China is selling from its reserves and a weak export report. The price decline was limited by ongoing concerns about the dry conditions on the Texas High Plains. Additionally, late in the week, prices got a boost from a report that India’s cotton production will likely Read more…

TDA Market Recap, March 31, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending March 29, 2014, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt) compared to their previous sale. Some locations were as much as $10 higher, but a few were $3 lower on a portion of their offerings. Texas direct feeder cattle prices were $1 to $5 higher. Tight supplies and strong demand continue to support the feeder cattle market, but prices also fluctuate depending on the types and condition of cattle being sold and specific buyer requirements at each particular sale on a particular day. Fed cattle cash prices were steady at $150 per cwt. Wholesale beef values were lower. Weekly beef export sales of 13,300 metric tons (MT) were down 18 percent from the previous week and six percent from the prior four-week average. Primary buyers were Japan, Mexico and South Korea. Shipments of 11,600 MT were down 20 percent from the previous week and nine percent from the prior four-week average.

Cotton prices ended a volatile week lower. On the down side, China lowered the base price of the cotton it is selling from its reserves. On a more positive note Read more…

TDA Market Recap, March 17, 2014

Texas Department of Agriculture

For the week ending March 15, 2014, Texas feeder cattle auctions reported prices mostly steady to $5 higher per hundredweight (cwt), with a few locations as much as $10 higher, but some as much as $6 lower. Texas direct feeder cattle prices were steady to $4 higher. Fed cattle cash prices held steady at $148 per cwt. Wholesale beef values set new record highs last week, with Choice-grade cuts averaging $241.51 on Wednesday. Tight supplies and strong demand continued to support the entire cattle sector, but some fluctuations are also to be expected. Read more…

TDA Market Recap, March 10, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending March 8, 2014, Texas feeder cattle auctions reported prices mostly steady to $3 higher per hundredweight (cwt), with a few locations as much as $10 higher. However, a few lower prices also were noted. Texas direct feeder cattle prices were $1 to $3 higher. Fed cattle cash prices declined $2 from the previous week’s new record-high to land at $148 per cwt. Wholesale beef values also were higher. Tight supplies and strong demand continued to support markets throughout the cattle sector. Beef export sales for the week were 11,100 metric tons (MT), down five percent from a week earlier and four percent from the prior four-week average. Japan and Hong Kong were the leading buyers. Export shipments were down three percent from both the previous week and the average.

Cotton cash prices were higher due to strong weekly export data and concerns about the dry conditions on the Texas Plains and in California. Stronger equity markets and the ongoing crisis in Ukraine contributed to the rise in prices. Cotton weekly export sales totaled 159,500 bales, which were much higher than expected. Sales were nearly six times higher than the previous Read more…

TDA Market Recap, March 3, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending March 1, 2014, Texas feeder cattle auctions reported prices mostly steady to $7 higher per hundredweight (cwt), with a few as much as $10 higher. However, a few lower prices also were noted early in the week. Texas direct feeder cattle prices were mostly steady. Fed cattle cash prices were $5.47 higher to a new record-high $150.16 per cwt. Wholesale beef values also were higher. Prices across the cattle sector remain strong as tight supplies and strong demand continue to support the market. Weekly beef export sales totaled 11,700 metric tons (MT), up 19 percent from the previous week and five percent from the prior four-week average. Export shipments were up three percent from a week earlier, but down one percent from the average. Japan, South Korea and Hong Kong were the leading destinations for U.S. beef.

Cotton cash prices were lower due to weak export data, ongoing concerns about burdensome world supplies and uncertainty about how China will handle its large cotton reserves. There were rumors that China will lower the price on the cotton it is selling out of its reserves and maybe offer its domestic yarn mills Read more…

TDA Market Recap, Feb. 18, 2014

Texas Department of Agriculture

For the week ending Feb. 15, 2014, Texas feeder cattle auctions reported prices mostly steady to $10 higher per hundredweight (cwt), with the market generally stronger later in the week. A number of locations reported smaller than usual receipts as inclement weather limited cattle movement. Texas direct feeder cattle prices were mostly steady. Fed cattle cash prices were $1 higher in spite of lower wholesale beef values. Prices across the cattle sector remain at historically high levels as tight supplies and strong demand continue to support the market. Read more…

TDA Market Recap, Feb. 10, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Feb. 8, 2014, Texas feeder cattle auctions reported prices $4 lower to $7 higher per hundredweight (cwt). Many locations had very light receipts due to cold temperatures and icy roads that limited cattle movement. Texas direct feeder cattle prices were $2 to $4 lower.

Fed cattle cash prices declined $3.60 per cwt in very light trade, with only 228 head confirmed by USDA at $141. Wholesale beef values were sharply lower, with Choice-grade offerings down $22.72 (10 percent) for the week as retailers caught up on purchases and returned to more normal buying patterns. Those lower prices also pulled fed cattle and feeders lower. However, prices across the cattle sector remain at historically high levels as tight supplies continue to support the market. Weekly beef export sales totaling 8,100 metric tons (MT) were down 19 percent from a week ago and 21 percent below the prior four-week average. Hong Kong, Japan and Taiwan were the leading buyers. Shipments of 12,300 MT were up one percent from a week earlier and up nine percent from the average.

Cotton prices were higher due to tight supplies of uncommitted U.S. cotton, continued Chinese Read more…

TDA Market Recap, Feb. 5, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Feb. 1, 2014, Texas feeder cattle auctions reported prices $4 lower to $8 higher per hundredweight (cwt). Texas direct feeder cattle prices were steady to $3 lower. Fed cattle cash prices declined $2.50 from the previous week’s record-high, averaging $144.62 on a light sales volume. Wholesale beef values were sharply lower, with Choice-grade offerings down $6.50 from the record high set the previous Wednesday. Prices across the cattle-beef complex remain at historically high levels as tight supplies continue to support the market. Beef export sales totaled 10,600 metric tons (MT) last week, down 26 percent from the previous week and down 39 percent from the prior four-week average. Japan, Canada and Mexico were the leading buyers. Shipments of 12,700 MT were up five percent from a week earlier and 13 percent above the average. South Korea, Japan and Mexico were the top destinations.

Cotton prices were modestly higher due to another strong weekly exports report. Cotton export sales for the week were down three percent from the previous week, but were still the second highest of the marketing year and more than double the prior four-week average. Vietnam, China and Read more…

TDA Market Recap, Jan. 27, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Jan. 25, 2014, Texas feeder cattle auctions reported prices $6 lower to $5 higher per hundredweight (cwt). Texas direct feeder cattle prices were steady to $2 higher. Fed cattle cash prices set another record-high last week, averaging $147.12 per cwt, up $5 from the previous week. Wholesale beef values also established new record-highs on Wednesday, with Choice-grade offerings topping $240 per cwt for the first time. Beef prices then slipped lower through the end of the week as buyers caught up on their purchases. Prices across the cattle-beef complex remain at historically high levels as tight supplies continue to support the market. Weekly beef export sales were down nine percent from the previous week, but nearly four times higher than the prior four-week average. Shipments were up one percent for the week and even with the average.

Cotton prices were lower for the week, mostly because of concerns about the Chinese economy and a sharp drop Friday in U.S. stock markets and in spite of strong weekly export data. Weekly cotton export sales were the highest so far this marketing year, coming in at more than double the previous week Read more…

TDA Market Recap, Jan. 21, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Jan. 18, 2014, Texas feeder cattle auctions reported prices mostly steady to $6 higher per hundredweight (cwt). However, a few locations also noted prices $4 lower on a portion of their offerings, and some were as much as $15 higher. Texas direct feeder cattle prices were mostly steady. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices set another record-high last week, averaging $141.93 per cwt, up $3 from the previous week. Wholesale beef values also established new record-highs, with Choice-grade offerings passing $230 per cwt for the first time. Weekly beef export sales totaled 15,800 metric tons, nearly three times higher than the previous week. South Korea, Hong Kong and Mexico were the leading buyers.

Cotton prices were higher due to strong weekly export data and news that China’s cotton imports during December were 14 percent higher than a year ago. In addition, news that several major exporters to China were fined for not reporting their sales was supportive, as it means that sales Read more…

TDA Market Recap, Jan. 13, 2013

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Jan. 11, 2014, Texas feeder cattle auction prices through mid-week were mostly $3 to $15 higher per hundredweight (cwt) compared to their last sales prior to the holidays, with a few as much as $25 higher. Auctions later in the week were steady to $3 higher compared to the previous week. Texas direct feeder cattle prices were steady to $2 higher compared to a week ago. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices were up $2.47 from the previous week, which brought a new record high of $138.99 per cwt. Wholesale beef values also established record-high prices.

Beef export sales totaled 5,800 metric tons, with Hong Kong and Japan as the leading buyers.

Cotton prices were lower. U.S. production and projected U.S. and world ending stocks reported by USDA came in somewhat higher than expected. In addition, an unofficial survey of cotton growers indicated acreage may increase in 2014, and changes in Chinese cotton price support policies could sharply curtail their purchases this year. Read more…

TDA Market Recap, Jan. 6, 2014

Texas Department of Agriculture

Source: Texas Department of Agriculture

For the week ending Jan. 4, 2014, Texas feeder cattle auction prices are not available as all reporting locations remained closed for the Holidays. Texas direct feeder cattle prices were steady. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices were up $3 from the previous week to a new record high $136.52 per cwt. Wholesale beef values were higher. Beef exports totaled only 2,500 metric tons, down 48 percent from the prior four-week average.

Cotton prices were lower. Weekly cotton export sales were down 61 percent from both the previous week and the average. Major buyers were China, Bangladesh, Turkey and Mexico.

Corn and grain sorghum prices were lower as large U.S. supplies and weak exports continue to pressure markets. Corn export sales for the week were down 90 percent from the previous week and 80 percent lower than the four-week average. Japan, Peru, and the Dominican Republic were leading buyers. Shipments were down 37 percent from a week earlier and 7 percent below the average.

Wheat prices Read more…

TDA Market Recap, Dec. 9, 2013

Texas Department of Agriculture

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. Read more…

TDA Market Recap Dec. 2, 2013

Texas Department of Agriculture

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, with only about 600 head of sales 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. Read more…

TDA Market Recap, 11-25-13

Texas Department of Agriculture

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. Read more…

TDA Market Recap, Nov. 18, 2013

Texas Department of Agriculture

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 $6 lower. Texas direct feeder cattle sales were mostly steady. Tight cattle supplies and grain prices 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 4-week average. For the year, sales are running 16 percent below last year’s pace. Read more…

TDA Market Recap, Nov. 12, 2013

Texas Department of Agriculture

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. Read more…

TDA Market Recap, Nov. 4, 2013

Texas Department of Agriculture

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. Read more…

TDA Market Recap, Oct. 28, 2013

Texas Department of Agriculture

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. Read more…