TDA Market Recap February 4
AUSTIN - (February 4, 2008) For the week ending February 2, 2008, feeder steer prices at Texas auctions averaged $107.16 per hundred-weight, up $2.67 from a week earlier with good demand for the light supplies coming to market. Fed cattle prices were lower. Grain markets rebounded from the previous week's steady to lower prices, aided by the recovery in financial and non-agricultural commodity markets. As for futures markets, feeder cattle, cotton, wheat, corn and lumber closed the week higher, while finished cattle were lower. Little precipitation was recorded anywhere in the state last week, with some snowfall in the Panhandle and scattered showers elsewhere. Temperatures ranged from cold to unseasonably warm, and high winds were recorded in many areas. Soil moisture was rated mostly short to adequate across the state, with some surplus areas remaining along the coast and in East Texas. The winter wheat crop continues to suffer from the dry weather and is reported in fair to very poor condition. Preparations for spring planting are underway in many areas.
- - - - - - Week Ending - - - - -
| 02/02/08 | 01/26/08 | 02/03/07 | |||
| Feeder Steers | ($/cwt) | 107.16 | 104.79 | 102.89 | |
| Fed Cattle | ($/cwt) | 89.97 | 91.01 | 88.79 | |
| Slaughter Lambs | ($/cwt) 115.00 | 114.00 | 123.50 | ||
| Slaughter Goats ($/cwt) 125.50 | 118.00 | 127.50 | |||
| Cotton | (¢/lb) | 62.75 | 63.00 | 50.63 | |
| Grain Sorghum | ($/bu) | 8.16 | 8.12 | 6.86 | |
| Wheat | ($/bu) | 9.13 | 8.93 | 4.44 | |
| Corn | ($/bu) | 5.11 | 5.04 | 4.23 | |
| Oranges | ($/carton) | 7.84 | 7.84 | 16.75 | |
Futures Markets:
| Feeder Cattle | ($/cwt) | 105.45 | 102.10 | |
| Finished Cattle | ($/cwt) | 90.23 | 91.40 | |
| Cotton | (¢/lb) | 68.16 | 67.89 | |
| Wheat | ($/bu) | 9.90 | 9.70 | |
| Corn | ($/bu) | 5.01 | 4.98 | |
| Lumber | ($/1000 bd ft) | 221.00 | 222.40 |
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.
