For the week ending April 13, 2017, Texas feeder cattle auctions reported prices steady to $10 higher. Wholesale Beef values were higher, with Choice Grade gaining $3.21 to end at $210.67 per hundredweight (cwt) and Select Grade gaining $2.16 to end at $198.76 per cwt. For the time period of April 3-9, 2017 the USDA NASS Field Office reported that most of the state’s cattle were in good condition. However, ticks and other pests were becoming more prevalent in areas of the Trans Pecos. Supplemental feeding of livestock slowed in the Blacklands. Pasture and pasture condition were rated 75 percent good to fair.
Cotton prices were higher at the end of last week, with cash prices gaining 0.75 to end the week at 76.00 cents per pound and May futures gaining 0.47 cents to end at 75.62 cents per pound. The USDA NASS Field Office reported that cotton planted was estimated at 10 percent, on pace with the five-year average. Cotton planting continued in the Blacklands, South East Texas, South Central Texas and the Upper Coast. Preparations for cotton planting were underway in the Southern Low Plains.
Wheat prices were higher at the end of last week, with cash prices gaining a nickel to end at $3.45 per bushel and May futures gaining a penny to end at $4.27 per bushel. The USDA NASS Field Office reported that winter wheat was rated 79 percent fair to good. Wheat was heading in the Plains, the Blacklands and North East Texas. Wheat streak mosaic virus and Russian wheat aphids were reported in fields on the Northern High Plains. Rust was affecting some wheat in the Blacklands.
Corn prices were higher at the end of last week with cash and May futures both gaining 4 cents to end at $3.65 per bushel and $3.71 per bushel, respectively. The USDA NASS Field Office reported that corn planting was still in progress in the Blacklands. Rootless corn syndrome was reported in a few fields in the Upper Coast.
Grain Sorghum cash prices were higher and the end of last week, gaining 2 cents to end at $5.50 per cwt.
Milk prices were higher at the end of last week, with April Class III milk futures gaining 13 cents to end at $15.23 per cwt.
This week’s U.S. Drought Monitor for Texas showed improving drought conditions for the state, with 15.26 percent of Texas still in some stage of drought intensity, down 2.25 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought. On the national level, drought conditions improved slightly, with 26.99 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 2.74 percentage points from last week.
| Week Ending | Previous | Previous | ||
| Texas Cash Markets: | April 13, 2017 | Week | Year | |
| Feeder Steers | $/cwt | N/A | 131.88 | 150.93 |
| Fed Cattle | $/cwt | 126.82 | 122.00 | 133.17 |
| Slaughter Lambs | $/cwt | 187.00 | 195.00 | 196.00 |
| Slaughter Goats | $/cwt | 276.00 | 271.00 | 273.00 |
| Cotton | ¢/lb. | 76.00 | 73.50 | 56.12 |
| Grain Sorghum | $/cwt | 5.50 | 5.31 | 5.51 |
| Wheat | $/bu. | 3.45 | 3.37 | 3.83 |
| Corn | $/bu. | 3.65 | 3.55 | 3.81 |
| Futures Markets: | ||||
| Feeder Cattle | $/cwt | 137.80 | 133.75 | 155.07 |
| Fed Cattle | $/cwt | 125.37 | 120.05 | 131.47 |
| Cotton | ¢/lb. | 75.62 | 73.46 | 60.03 |
| Wheat | $/bu. | 4.27 | 4.22 | 4.58 |
| Corn | $/bu. | 3.71 | 3.60 | 3.79 |
| Lumber | $/MBF | 385.00 | 399.60 | 280.50 |
| Class III Milk | $/cwt | 15.23 | 15.10 | 13.72 |
MBF = thousand board feet.
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 Texas direct sales of 650-850 pound medium and large No.1 steers for current delivery. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.”
For additional information, contact TDA at (800) 835-5832 or visit www.TexasAgriculture.gov.