TDA Market Recap June 15, 2009
For the week ending June 13, 2009, feeder cattle prices at Texas auctions were steady to $5 lower per hundredweight, with a few areas $3 higher on offerings under 500 pounds. Recent declines in finished cattle prices and ongoing losses by cattle feeders continue to pressure the market. Fed cattle prices were near unchanged from a week ago. Cotton prices were unchanged and grain prices declined as a stronger U.S. dollar eroded export demand. As for futures markets, feeder cattle, finished cattle and cotton were higher, while wheat, corn and lumber were lower. Most areas of the state reported only scattered showers during the week, while parts of Central Texas recorded up to 8 inches of rain. Topsoil moisture was rated mostly short to adequate statewide. Wheat harvest advanced to 37 percent complete with the crop reported in mostly very poor to poor condition. Cotton planting was 93 percent complete and 10 percent of the acreage is squaring. Grain sorghum planting was nearing completion on the High Plains, while the South Texas crop is nearing maturity. Pastures were reported to be in mostly fair to good condition and needing rain in many areas.
|- - - - - - Week Ending - - - - -|
|Onions||($/50 lbs) 8.50||9.00||7.00|
|Lumber||($/1000 bd ft)||206.30||213.70||242.20|
The cash prices above are market averages for locations covered by the TDA 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 #1 steers. Futures prices are quoted for the nearest month contract on the last trading day of the week. For additional information, contact TDA Market News at (800) 252-3407 or visit our Web site, www.tdamarketnews.com.