TDA Market Recap, March 11, 2013
Source: Texas Department of Agriculture
For the week ending March 9, 2013, feeder cattle price trends reported by Texas auctions varied from $5 lower per hundredweight (cwt) to $5 higher. Texas direct feeder cattle sales were mostly steady. The Oklahoma City National Stockyards were up sharply from last week’s weather-shortened sale, but mostly steady to $2 lower compared to the last full sale two weeks ago. Tight supplies continue to support the feeder cattle market, but negative feedlot margins are also pressuring prices. Fed cattle cash prices were unchanged from the prior week in spite of higher beef prices. Cotton prices were higher as Chinese purchases and projections for lower plantings this year continued to support the market. Wheat and corn were lower due to weak exports and improved moisture conditions in major U.S. growing areas.
As for futures markets, cotton and corn were higher, but feeder cattle, fed cattle, wheat and lumber were lower.
Much of the state recorded rainfall last week, with amounts of one-half inch or more in parts of the Panhandle and a rough triangle from Del Rio to Gainesville on the north and San Augustine to the east. This week’s crop progress and condition report from USDA NASS was not available in time for this week’s recap.
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Week Ending |
Previous |
Previous |
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| Texas Cash Markets: |
March 9, 2013 |
Week | Year | |
| Feeder Steers | ($/cwt) |
170.92 |
160.11 |
187.63 |
| Fed Cattle | ($/cwt) |
127.97 |
127.94 |
126.63 |
| Slaughter Lambs | ($/cwt) |
162.50 |
164.00 |
182.00 |
| Slaughter Goats | ($/cwt) |
235.00 |
246.00 |
229.00 |
| Cotton | (¢/lb.) |
80.75 |
79.00 |
84.75 |
| Grain Sorghum | ($/cwt) |
12.29 |
12.38 |
11.25 |
| Wheat | ($/bu.) |
7.01 |
7.34 |
6.23 |
| Corn | ($/bu.) |
7.51 |
7.62 |
6.69 |
| Oranges | ($/carton) |
11.45 |
n/a |
12.80 |
| Grapefruit | ($/carton) |
15.95 |
15.95 |
13.05 |
| Cabbage | ($/50 lbs.) |
6.75 |
6.50 |
4.75 |
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| Pine Saw Logs | $/MBF |
196.74 |
189.31 |
182.67 |
| Pine Pulpwood | $/ton |
5.69 |
5.78 |
6.26 |
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| Futures Markets: |
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| Feeder Cattle | ($/cwt) |
138.97 |
141.55 |
153.92 |
| Fed Cattle | ($/cwt) |
127.55 |
129.95 |
126.02 |
| Cotton | (¢/lb.) |
86.88 |
83.68 |
87.96 |
| Wheat | ($/bu.) |
7.38 |
7.56 |
6.80 |
| Corn | ($/bu.) |
7.25 |
7.24 |
6.54 |
| Lumber | ($/MBF) |
390.00 |
395.40 |
276.00 |
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 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. 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.