TDA Market Recap November 17
AUSTIN - (Nov. 17, 2008) For the week ending Nov. 15, 2008, feeder cattle prices at Texas auctions were mixed, with steers mostly steady to $4 higher per hundredweight and heifers steady to $4 lower. However, some locations were as much as $4 lower on steers and $5 higher on heifers. Fed cattle prices were $1 lower in spite of higher beef prices. Cotton and grain prices ended the week slightly higher as a weaker dollar boosted export demand. Wet, cool weather in the Midwest also supported grain prices. Agricultural markets remain extremely sensitive to general economic conditions and stock market movements. As for futures markets, wheat, corn and lumber were higher while fed cattle, feeder cattle and cotton were lower. Most areas across the state reported scattered showers with rainfall amounts generally less than 1 inch. Wheat seeding is nearing completion with the crop in mostly good to fair condition and needing rain in many areas. Cotton harvest advanced to 40 percent complete, but remains well behind the normal 53 percent by this date. Corn harvest is nearing completion and grain sorghum is 84 percent harvested, slightly ahead of average. Pastures on the Plains are in good condition, but mostly fair to poor elsewhere around the state.
| - - - - - | |||||
| 11/15/08 | 11/08/08 | 11/17/07 | |||
| Feeder Steers ($/cwt) | 102.29 | 101.52 | 107.69 | ||
| Fed Cattle | ($/cwt) | 92.97 | 93.95 | 92.62 | |
| Slaughter Lambs ($/cwt) | 105.50 | 103.50 | 110.00 | ||
| Slaughter Goats ($/cwt) | 113.50 | 112.50 | 115.50 | ||
| Cotton | (¢/lb) | 41.25 | 40.75 | 61.00 | |
| Grain Sorghum ($/cwt) | 5.31 | 5.24 | 6.17 | ||
| Wheat | ($/bu) | 5.12 | 4.81 | 6.99 | |
| Corn | ($/bu) | 3.88 | 3.84 | 3.83 | |
| Grapefruit | ($/carton) | 12.15 | 12.23 | 13.65 | |
| Oranges | ($/carton) | 9.63 | 9.63 | 9.71 | |
| Cabbage | ($/carton) | 7.25 | 7.25 | 9.25 | |
| Futures Markets: | |||||
| Feeder Cattle ($/cwt) | 96.70 | 98.95 | 109.13 | ||
| Finished Cattle ($/cwt) | 90.05 | 92.80 | 95.30 | ||
| Cotton | (¢/lb) | 41.03 | 42.07 | 60.90 | |
| Wheat | ($/bu) | 5.93 | 5.68 | 7.75 | |
| Corn | ($/bu) | 3.80 | 3.76 | 3.80 | |
| Lumber | ($/1000 bd ft) | 192.30 | 186.20 | 267.00 | |
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.
