TDA Market Recap July 27, 2009
For the week ending July 25, 2009, feeder cattle price trends at Texas auctions were mixed, with prices from $4 lower per hundredweight to $4 higher. Finished cattle prices were $1 lower in light trade. Cotton prices ended the week unchanged, but grain prices were lower. Ample global wheat supplies, good growing weather in the Midwest and weak export demand pressured grain markets. As for futures markets, feeder cattle, finished cattle, cotton, wheat and corn were lower, while lumber was higher. Scattered showers were reported across the state with rainfall up to 3 inches recorded in some locations. Drought conditions persist over much of the state and topsoil moisture was reported in short to very short supply in most areas. However, portions of the Plains and East Texas reported mostly adequate moisture. On the High Plains, preparations continued for fall wheat seedings, grain sorghum was heading, cotton and sunflowers were blooming and corn matured. In the Trans-Pecos, cotton was squaring and chile peppers were in full bloom. In the Blacklands, grain sorghum heads were turning color. Corn suffered from the drought conditions in South Texas and along the Upper Coast. Pastures were in mostly very poor to fair condition statewide.
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.