TDA Market Recap April 26, 2010
AUSTIN - For the week ending April 24, feeder cattle price trends at Texas auctions were mixed, from $6 lower per hundredweight to $5 higher. Average prices declined from last week, but remain well above year-ago levels. Fed cattle prices were unchanged from a week ago. Cotton prices increased after India announced it is suspending exports indefinitely. Corn prices were lower as good planting weather in the Midwest improved chances for a large 2010 crop and wheat declined as large global supplies continued to pressure markets. As for futures markets, feeder cattle, fed cattle, cotton and lumber were higher while corn and wheat were lower. Most areas of the state recorded rainfall during the week ranging from a trace to as much as four inches, with the heaviest amounts falling on the Northern Low Plains. Rains and wet fields delayed planting in parts of the High and Low Plains. Topsoil moisture was reported adequate to short in East Texas and the Trans-Pecos, and adequate to surplus elsewhere. The rains helped wheat make good progress with 35 percent of the acreage headed compared to 43 percent on average by this date. The crop was reported in mostly good to fair condition. Corn planting advanced to 61 percent complete, behind the normal 71 percent, and was in mostly good to fair condition. The cotton crop was 15 percent planted compared to the average 20 percent. Grain sorghum, rice, peanut and soybean planting were also active. Pastures were reported in mostly good to fair condition.
- Week Ending
| Texas Cash Markets: | 04/24/10 | 04/17/09 | 04/17/08 | |
| Feeder Steers ($/cwt) | 122.57 | 124.95 | 109.29 | |
| Fed Cattle ($/cwt) | 98.99 | 98.98 | 87.92 | |
| Slaughter Lambs ($/cwt) | 145.75 | 145.88 | 138.00 | |
| Slaughter Goats($/cwt) | 205.33 | 195.83 | 164.00 | |
| Cotton (¢/lb) | 78.50 | 76.00 | 46.75 | |
| Grain Sorghum ($/bu) | 5.41 | 5.60 | 5.25 | |
| Wheat ($/bu) | 4.19 | 4.28 | 5.06 | |
| Corn ($/bu) | 3.58 | 3.69 | 3.74 | |
| Oranges ($/carton) | 11.28 | 11.30 | 10.90 | |
| Grapefruit ($/carton) | 11.15 | 11.15 | 11.25 | |
| Cabbage ($/carton) | 5.50 | 6.00 | 8.15 | |
| Onions ($150 lb) | 35.50 | - - - | 6.75 | |
| Futures Markets: | ||||
| Feeder Cattle ($/cwt) | 112.20 | 111.95 | 99.75 | |
| Fed Cattle ($/cwt) | 99.22 | 98.75 | 86.85 | |
| Cotton (¢/lb) | 84.26 | 80.01 | 51.70 | |
| Wheat ($/bu) | 5.06 | 5.07 | 5.86 | |
| Corn ($/bu) | 3.53 | 3.64 | 3.77 | |
| Lumber($/1000bdft) | 315.50 | 315.00 | 172.70 |
All 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 No. 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.tdamarket news.com
