Agriculture Market Summary

Newly Launched Ag Market Summary webpage

noreply@blogger.com (Texas Department of Agriculture) — Wed, 19 Feb 2014 17:52:00 +0000

We're proud to announce the launch of our new Agriculture Market Summary webpage.

To take a look at our newly designed site, please click here.

Texas Agricultural Market Summary, Feb. 11, 2014

noreply@blogger.com (Texas Department of Agriculture) — Tue, 11 Feb 2014 16:17:00 +0000

For the week ending Feb. 8, 2014, Texas feeder cattle auctions reported prices $4 lower to $7 higher per hundredweight (cwt). Many locations had very light receipts due to cold temperatures and icy roads that limited cattle movement. Texas direct feeder cattle prices were $2 to $4 lower. Fed cattle cash prices declined $3.60 per cwt in very light trade, with only 228 head confirmed by USDA at $141. Wholesale beef values were sharply lower, with Choice-grade offerings down $22.72 (10 percent) for the week as retailers caught up on purchases and returned to more normal buying patterns. Those lower prices also pulled fed cattle and feeders lower. However, prices across the cattle sector remain at historically high levels as tight supplies continue to support the market. Weekly beef export sales totaling 8,100 metric tons (MT) were down 19 percent from a week ago and 21 percent below the prior four-week average. Hong Kong, Japan and Taiwan were the leading buyers. Shipments of 12,300 MT were up one percent from a week earlier and up nine percent from the average.

Cotton prices were higher due to tight supplies of uncommitted U.S. cotton, continued Chinese purchases and strong weekly export data. Cotton export sales of 179,800 bales were 63 percent lower than a week earlier and 43 percent lower than the average. However, sales for the marketing year have now reached 87 percent of the annual total projected by USDA, compared to 80 percent at this time last year. Shipments totaled 358,600 bales, a high for the marketing year, up 18 percent from last week and 48 percent higher than the average. China, Turkey, Indonesia and Mexico were the top destinations.

Corn and grain sorghum prices were higher because of hot, dry conditions in South America and support from higher soybean prices. Corn export sales totaled 1.7 million MT, down eight percent from the previous week, but nearly double the prior four-week average. Japan, Spain and Vietnam were the leading buyers. Exports of 747,300 MT were down 26 percent from a week earlier and three percent lower than the average.

Wheat prices were higher due to a decline in crop conditions and concerns about possible winter-kill on the U.S. Plains and in the Black Sea region. Wheat export sales totaled 733,600 MT for the week, down 15 percent from the previous week, but up 62 percent from the average. Guatemala, Japan and Brazil were the leading buyers. Shipments of 367,900 MT were two percent lower than a week earlier, and 18 percent below the prior four-week average.

Much of East Texas received one-half inch or more of precipitation during the week, but little or no moisture was recorded elsewhere in the state. Last week’s U.S. Drought Monitor showed further deterioration of conditions in Texas, with the area of the state rated as abnormally dry or in drought up more than four points to 85 percent. The areas rated abnormally dry, in moderate drought and extreme drought increased and the percentage in exceptional drought remained near unchanged. Nationally, 57 percent of the contiguous states were reported in some degree of abnormal dryness or drought, up one point from a week ago. Additional information on agricultural weather, crop progress and agricultural markets can be found on the TDA Market News page.

All cash prices above are market averages for locations covered by the USDA Market News program and do not reflect any particular sale at any specific location. Feeder cattle prices are for Texas direct sales of 650-850 pound medium and large No.1 steers for current delivery. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Texas Agricultural Market Summary, Feb. 4, 2014

noreply@blogger.com (Texas Department of Agriculture) — Tue, 04 Feb 2014 18:02:00 +0000

For the week ending Feb. 1, 2014, Texas feeder cattle auctions reported prices $4 lower to $8 higher per hundredweight (cwt). Texas direct feeder cattle prices were steady to $3 lower. Fed cattle cash prices declined $2.50 from the previous week’s record-high, averaging $144.62 on a light sales volume. Wholesale beef values were sharply lower, with Choice-grade offerings down $6.50 from the record high set the previous Wednesday. Prices across the cattle-beef complex remain at historically high levels as tight supplies continue to support the market. Beef export sales totaled 10,600 metric tons (MT) last week, down 26 percent from the previous week and down 39 percent from the prior four-week average. Japan, Canada and Mexico were the leading buyers. Shipments of 12,700 MT were up five percent from a week earlier and 13 percent above the average. South Korea, Japan and Mexico were the top destinations.

Cotton prices were modestly higher due to another strong weekly exports report. Cotton export sales for the week were down three percent from the previous week, but were still the second highest of the marketing year and more than double the prior four-week average. Vietnam, China and Mexico were the leading buyers. Shipments totaling 304,100 were the highest this marketing year, up 29 percent from a week earlier and 51 percent higher than the average.

Corn and grain sorghum prices were higher as solid export data continued to support the market. Corn export sales totaled 1.8 million MT last week, 2.5 times higher than the previous week and more than four times higher than the four-week average. Japan accounted for nearly half the purchases. Shipments of 1 million MT were up 26 percent from the week earlier and up 38 percent from the average. Japan, Mexico and Columbia were the leading destinations. Grain sorghum sales and shipments also were up sharply from both the previous week and the average.

Wheat prices were lower as large world supplies continue to pressure the market and in spite of strong export sales and concerns about freeze damage. Wheat export sales for the week were 794,900 MT, nearly double the previous week and nearly three times higher than the average.

Most of the state recorded precipitation during the week, with totals of one-half inch or more reported in parts of North Texas, East Texas and the Lower Rio Grande Valley. Last week’s U.S. Drought Monitor showed further deterioration in conditions in Texas, with the area of the state rated as abnormally dry or in drought up four points to 81 percent. The areas rated in moderate, severe and extreme drought increased and the percentage in exceptional drought held unchanged. It has been more than three years, since early November 2010, that more than half the state has been rated in some degree of drought. Nationally, 56 percent of the contiguous states were reported in some degree of abnormal dryness or drought, up three points from a week ago. There are growing concerns about drought conditions in California. Officials there have said that their agricultural sector stands to lose more than $5 billion if they do not get relief soon. Additional information on agricultural weather, crop progress and agricultural markets can be found on the TDA Market News page.

Texas Agricutlural Market Summary, Jan. 27, 2014

noreply@blogger.com (Texas Department of Agriculture) — Mon, 27 Jan 2014 21:04:00 +0000

For the week ending Jan. 25, 2014, Texas feeder cattle auctions reported prices $6 lower to $5 higher per hundredweight (cwt). Texas direct feeder cattle prices were steady to $2 higher. Fed cattle cash prices set another record-high last week, averaging $147.12 per cwt, up $5 from the previous week. Wholesale beef values also established new record-highs on Wednesday, with Choice-grade offerings topping $240 per cwt for the first time. Beef prices then slipped lower through the end of the week as buyers caught up on their purchases. Prices across the cattle-beef complex remain at historically high levels as tight supplies continue to support the market. Weekly beef export sales were down nine percent from the previous week, but nearly four times higher than the prior four-week average. Shipments were up one percent for the week and even with the average.

Cotton prices were lower for the week, mostly because of concerns about the Chinese economy and a sharp drop Friday in U.S. stock markets and in spite of strong weekly export data. Weekly cotton export sales were the highest so far this marketing year, coming in at more than double the previous week and more than three times higher than the prior four-week average. China, Vietnam and Indonesia were the largest buyers. Shipments were up nine percent from the previous week and 29 percent higher than the average.

Corn and grain sorghum prices were higher primarily due to support from higher soybean and energy markets. Corn export news was mixed. Weekly export sales were down 16 percent from the previous week, but up six percent from the prior four-week average. Egypt, Taiwan, Japan and Mexico were the top buyers. Shipments were up 19 percent from a week ago, but down eight percent from the average. Mexico and Japan were the leading destinations.

Wheat prices followed other grains and soybeans higher, though gains were limited by large world supplies that continue to pressure the market. Weekly export data were mixed. Wheat sales were up 32 percent from the previous week and 34 percent higher than the prior four-week average. Brazil, Japan and Nigeria were the leading buyers. However, shipments were down 28 percent from a week earlier and four percent lower than the average. Nigeria, China and Indonesia were the largest destinations.

Much of the state south of Interstate 20 recorded precipitation during the week, but totals of one-half inch or more were limited to parts of East Texas. Last week’s U.S. Drought Monitor showed another small deterioration in conditions in Texas, with the area of the state rated as abnormally dry or in drought up three points to 77 percent. The areas rated abnormally dry and in moderate drought increased, while other drought categories remained unchanged. Areas east of I-35 and north of I-10 along with sections of West and South Texas remain free of drought. Nationally, 53 percent of the contiguous states were reported in some degree of abnormal dryness or drought, up slightly from a week ago. Additional information on agricultural weather, crop progress and agricultural markets can be found on the TDA Market News page.

Texas Agricultural Market Summary, Jan. 22, 2014

noreply@blogger.com (Texas Department of Agriculture) — Wed, 22 Jan 2014 15:33:00 +0000

For the week ending Jan. 18, 2014, Texas feeder cattle auctions reported prices mostly steady to $6 higher per hundredweight (cwt). However, a few locations also noted prices $4 lower on a portion of their offerings, and some were as much as $15 higher. Texas direct feeder cattle prices were mostly steady. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices set another record-high last week, averaging $141.93 per cwt, up $3 from the previous week. Wholesale beef values also established new record-highs, with Choice-grade offerings passing $230 per cwt for the first time. Weekly beef export sales totaled 15,800 metric tons, nearly three times higher than the previous week. South Korea, Hong Kong and Mexico were the leading buyers.

Cotton prices were higher due to strong weekly export data and news that China’s cotton imports during December were 14 percent higher than a year ago. In addition, news that several major exporters to China were fined for not reporting their sales was supportive, as it means that sales were even better than indicated. Reports also noted that Chinese yarn and textile mills continue to open subsidiaries in Vietnam, where they are not subject to import quotas or forced to buy inferior-quality domestic cotton. Cotton export sales for the week were more than triple the previous week and 46 percent higher than the prior four-week average. Vietnam, Indonesia and China were the top buyers.

Corn and grain sorghum prices were lower after smaller than expected export inspections early in the week raised concerns about demand for the record-large corn crop. Weekly export sales data later in the week were more supportive, totaling 821,000 metric tons. This is more than five times higher than the previous week and up 26 percent from the prior four-week average. Egypt, Japan and Mexico were the primary buyers. Shipments were up from the previous week, but lower than the average.

Wheat prices were lower as large world supplies continue to pressure the market. Higher export inspections were supportive early in the week. However, prices later followed corn downward, as export sales came in higher than the previous week, but well below the prior four week average.

Very little precipitation fell anywhere in the state last week with totals of one-quarter of an inch or less reported in scattered locations, mostly in East Texas. Last week’s U.S. Drought Monitor showed a small deterioration in conditions in Texas, with the overall area of the state rated as abnormally dry or in drought up two points to 74 percent. The areas rated abnormally dry and in extreme drought increased, while other drought categories declined. Areas east of I-35 and north of I-10 along with sections of West and South Texas remain free of drought. Additional information on agricultural weather, crop progress and agricultural markets can be found on the TDA Market News page.

Texas Agricultural Market Summary, Jan. 14, 2014

noreply@blogger.com (Texas Department of Agriculture) — Tue, 14 Jan 2014 15:17:00 +0000

For the week ending Jan. 11, 2014, Texas feeder cattle auction prices through mid-week were mostly $3 to $15 higher per hundredweight (cwt) compared to their last sales prior to the holidays, with a few as much as $25 higher. Auctions later in the week were steady to $3 higher compared to the previous week. Texas direct feeder cattle prices were steady to $2 higher compared to a week ago. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices were up $2.47 from the previous week, which brought a new record high of $138.99 per cwt. Wholesale beef values also established record-high prices. Beef export sales totaled 5,800 metric tons, with Hong Kong and Japan as the leading buyers. Cotton prices were lower. U.S. production and projected U.S. and world ending stocks reported by USDA came in somewhat higher than expected. In addition, an unofficial survey of cotton growers indicated acreage may increase in 2014, and changes in Chinese cotton price support policies could sharply curtail their purchases this year. Weekly cotton export sales came in lower than expected at 68,100 bales, which is down 21 percent from the previous week and 62 percent lower than the prior four-week average. However, shipments were up 48 percent from a week earlier and up 37 percent from the average. Corn and grain sorghum prices ended the week higher after USDA reports showed lower than expected U.S. production and January 1 stocks on hand. In addition, projected U.S. and world supplies at the end of the marketing year came in lower than expected. However, this year’s U.S. corn crop was still a record-large 13.9 billion bushels, which will likely limit price gains. Corn export sales for the week were up one percent from the previous week, but down 79 percent from the four-week average. Japan and Mexico were the leading buyers. Shipments were down 29 percent from a week earlier and 34 percent below the average. Wheat prices were lower. USDA reported winter wheat seedings for harvest in 2014 at 41.9 million acres, down three percent from a year ago and much lower than expected. However, U.S. and world projected ending supplies were higher, and those large supplies continued to pressure the market. U.S. wheat export sales for the week were down 55 percent from the previous week and 76 percent lower than the prior four-week average. Futures markets were higher for feeder cattle, fed cattle, corn and lumber, but lower for cotton and wheat. Most of the state south of I-20 recorded precipitation during the week, with totals ranging from only a few hundredths of an inch in many western locations to an inch or more in much of East Texas. Last week’s U.S. Drought Monitor showed little change from the previous report. While there were some minor shifts in categories and regions, the overall percentage of the state rated as abnormally dry or in drought held steady at 72 percent. Most of the state east of I-35 and north of I-10, and sections of West and South Texas were free of drought.

Texas Agricultural Market Summary, Jan. 7, 2014

noreply@blogger.com (Texas Department of Agriculture) — Tue, 07 Jan 2014 14:01:00 +0000

For the week ending Jan. 4, 2014, Texas feeder cattle auction prices are not available as all reporting locations remained closed for the Holidays. Texas direct feeder cattle prices were steady. Market fundamentals remain bullish as tight supplies, record high fed cattle prices and grain prices much lower than they were at this time last year continue to support feeder prices. Fed cattle cash prices were up $3 from the previous week to a new record high $136.52 per cwt. Wholesale beef values were higher. Beef exports totaled only 2,500 metric tons, down 48 percent from the prior four-week average. Cotton prices were lower. Weekly cotton export sales were down 61 percent from both the previous week and the average. Major buyers were China, Bangladesh, Turkey and Mexico. Corn and grain sorghum prices were lower as large U.S. supplies and weak exports continue to pressure markets. Corn export sales for the week were down 90 percent from the previous week and 80 percent lower than the four-week average. Japan, Peru, and the Dominican Republic were leading buyers. Shipments were down 37 percent from a week earlier and 7 percent below the average. Wheat prices were lower. U.S. wheat export sales for the week were down 58 percent from the previous week and 46 percent lower than the prior four-week average. Futures markets were higher for feeder cattle and fed cattle, but lower for cotton, wheat, corn and lumber. Precipitation fell in the northern Panhandle, South and East Texas, with the heaviest totals of two inches or more falling in the Lower Rio Grande Valley. Last week’s U.S. Drought Monitor showed little change in Texas from the previous report, with the area of the state rated in some degree of drought holding steady at 72 percent. Most of East and East-Central Texas and sections of the Trans-Pecos, North and South Texas remain free of drought.

Texas Agricultural Market Summary, Dec. 17, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 17 Dec 2013 15:33:00 +0000

For the week ending Dec. 14, 2013, Texas feeder cattle auctions reported that prices early in the week were mostly steady to $8 lower per hundredweight (cwt) due to lingering impacts of a severe winter storm. Later in the week, prices, along with the weather, improved, and were steady to as much as $12 higher. Texas direct feeder cattle sales were steady. Fed cattle cash prices were $1 lower, and wholesale beef values were lower. Cotton prices were higher following supportive USDA reports. The U.S. cotton production forecast came in lower than expected and projected ending stocks were unchanged. However, projected world supplies increased. Weekly cotton export sales were nearly double the weekly average needed to meet export projections for the marketing year. Corn and grain sorghum prices were lower amid ongoing concerns about large U.S. supplies, uncertain Chinese demand and possible changes to U.S. ethanol policies. Corn export sales for the week were up 17 percent from the previous week and more than double the weekly average needed to meet USDA export projections for the marketing year; however, sales were down 26 percent from the prior four-week average. Wheat prices declined as large world supplies and export competition from other suppliers continued to pressure the market. However, weekly export sales were up 62 percent from the previous week and higher than the weekly average needed to meet expectations for the marketing year. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, but lower for corn and wheat. One half inch or more of precipitation fell in parts of the Trans-Pecos and East Texas during the week, but little or no rain fell elsewhere in the state. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report here.

Texas Agricultural Market Summary, Dec. 9, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 10 Dec 2013 14:15:00 +0000

For the week ending Dec. 7, 2013, Texas feeder cattle auctions reported prices mostly steady compared to their previous sale, with a few as much as $10 lower per hundredweight (cwt) and some as much as $4 higher. Much of the price weakness was attributed to the winter storm that hit the state late in the week. Texas direct feeder cattle sales were mostly steady. The Oklahoma National Stockyards were $2 to $4 lower on calves; however, yearling feeder cattle numbers were not sufficient to allow for market comparison. Fed cattle cash prices were steady. Wholesale beef values were lower. Weekly beef export sales were up 22 percent from the previous week and more than double the previous four-week average. However, shipments were lower. Cotton prices were higher due to strong export sales that were twice the weekly average needed to meet export projections for the marketing year. A winter storm across the U.S. Plains and stronger economic indicators also were factors. Corn and grain sorghum prices were higher after weekly ethanol production came in above levels needed to meet USDA projections for the marketing year. There also were concerns that the winter storm could limit near-term corn supplies. Weekly corn export sales were lower than expected, and down from both the previous week and the prior four-week average. However, shipments were higher compared to both periods and higher than the average needed to meet marketing year projections. Futures markets were higher for cotton and corn, but lower for feeder cattle, fed cattle, wheat and lumber. Most of the state recorded precipitation during the week, though totals of one-half inch or more were limited to parts of West and North Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Texas Agriculture Market Summary, Dec. 3, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 03 Dec 2013 16:37:00 +0000

For the week ending Nov. 30, 2013, a Texas feeder cattle auction trend is not available as most reporting locations were closed for the Thanksgiving holiday. Texas direct feeder cattle sales were mostly steady. Fed cattle cash prices were $1 higher per hundredweight (cwt), with sales of only about 600 head of cattle confirmed by USDA. Wholesale beef values were higher. Weekly beef export sales were down 43 percent from the previous week, but shipments were 13 percent higher. The primary destinations were South Korea, Mexico and Japan. Cotton prices were higher. Weekly export sales were 13 percent lower than the prior week; however, shipments were 35 percent higher. China, Pakistan, Japan and Egypt were the leading destinations. Corn and grain sorghum prices were lower. Weekly corn export sales were up seven percent from the previous week and four times higher than the average needed to meet annual projections. South Korea, China, Peru and Mexico were the leading buyers. Wheat prices were lower. Export sales were down nine percent from the previous week, but were still higher than expected and nearly double the weekly average needed to meet USDA export projections for the marketing year. Futures markets were higher for fed cattle, cotton, wheat and lumber, but lower for feeder cattle and corn. Most of the state east of a line from Del Rio to Ft. Worth recorded rainfall last week with totals of two inches or more reported in Southeast Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Texas Agricultural Market Summary, Nov. 26, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 26 Nov 2013 15:30:00 +0000

For the week ending Nov. 23, 2013, Texas auctions reported feeder cattle prices were mostly steady to $8 lower per hundredweight (cwt), but a few were $2 higher on a portion of their offerings. Texas direct feeder cattle sales were steady to $3 lower. Tight cattle supplies and grain prices that were much lower than a year ago have kept the market at near record-high levels. Fed cattle cash prices were $1 lower compared to the previous week following a decline in wholesale beef values. Weekly beef export sales were up 40 percent from the previous week and well above the prior four-week average. Cumulative sales for the year are down 16 percent from this time last year. Cotton prices were lower amid ongoing uncertainty about Chinese cotton policies and reports that its cotton imports fell 42 percent during October. The news more than offset a lower Chinese production forecast. In addition, cotton export sales for the week were down 35 percent from the previous week and lower than the average needed to meet USDA projections for the marketing year. Corn and grain sorghum prices were higher after weekly corn export sales came in above expectations and were more than three times higher than the average needed to meet annual projections. However, the gains were limited as markets continue to adjust to this year’s record large U.S. corn crop. Wheat prices were higher due to reports of unfavorable weather in Australia and Argentina, as well as strong export data. Weekly export sales were higher than expected, and more than double both the previous week and the weekly average needed to meet USDA projections for the year. Futures markets were higher for wheat, unchanged for corn, and lower for feeder cattle, fed cattle, cotton and lumber. Precipitation fell statewide last week with totals of two or more inches reported in parts of South and East Texas and along the Coastal Bend. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Nov. 19, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 19 Nov 2013 17:31:00 +0000

For the week ending Nov. 16, 2013, Texas auctions reported feeder cattle prices were mostly steady with a few as much as $4 higher per hundredweight (cwt), but some as much as $6 lower. Texas direct feeder cattle sales were mostly steady. Tight cattle supplies and grain prices, which were much lower than a year ago, continued to support the market. Fed cattle cash prices were $1 per cwt higher compared to the previous week. Wholesale beef values were lower. Weekly beef export sales totaled 11,800 metric tons, well above the prior four-week average. For the year, sales are running 16 percent below last year’s pace. Cotton prices were lower due to the advancing harvest and concerns that China will soon begin selling cotton from its massive reserves. Cotton export sales for the week were 472,700 bales, the highest weekly total since June 2012 and more than three times higher than the weekly average needed to meet USDA projections for the marketing year. Grain sorghum prices were higher, but corn was lower, as the record-large U.S. crop continues to weigh on the market. Prices came under additional pressure at the end of the week after the U.S. Environmental Protection Agency (EPA) announced a proposal to lower the renewable fuel standard for 2015, which could reduce the amount of corn needed for ethanol production. Weekly corn export sales totaled in the 1.2 million metric tons, higher than expected and about four times higher than the weekly average needed to meet USDA projections for the marketing year. Wheat prices were lower due to large world supplies, continued favorable weather in the U.S. and lower than expected weekly export sales. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, but lower for corn and wheat. Very little rain fell statewide last week with totals of one-quarter inch or less in scattered locations. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Nov. 13, 2013

noreply@blogger.com (Texas Department of Agriculture) — Wed, 13 Nov 2013 17:26:00 +0000

For the week ending Nov. 9, 2013, Texas auctions reported feeder cattle prices were mostly steady to $7 higher per hundredweight (cwt), with a few as much as $10 higher, but some $6 lower. Texas direct feeder cattle sales were mostly steady. Dwindling numbers of yearling cattle in the auction mix, tight overall supplies and grain prices that are much lower than a year ago continued to support the market. Fed cattle cash prices declined more than $1 per cwt from the previous week’s record high. Wholesale values were lower for Choice-grade beef, but higher for Select-grade offerings. Weekly beef export sales were a negative 18,500 metric tons, as cancellations outweighed new orders. Shipments totaled 13,300 metric tons; Hong Kong, Japan and Mexico were the top destinations. Cotton prices were lower due to the advancing harvest and projections for larger U.S. and world supplies. Weekly export sales were higher than expected and nearly three times higher than the average needed to meet USDA projections for the marketing year. However, shipments came in lower than expected. Wheat prices were lower due to continued favorable weather in the U.S. and lower export prices from India. Weekly export sales were well above expectations and nearly double the weekly average needed to meet annual projections. Corn prices were unchanged and grain sorghum was higher. Forecasts for higher production were offset by much better than expected export sales. Futures markets were higher for feeder cattle, fed cattle, cotton and lumber, unchanged for corn and lower for wheat. Most of the state recorded rainfall during the week, with an inch or more reported in parts of South, West-Central and North Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Nov. 5, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 05 Nov 2013 15:09:00 +0000

For the week ending Nov. 2, 2013, Texas fed cattle cash prices posted a slight increase to reach a new record high of $132.33 per hundredweight (cwt). Smaller supplies of market-ready cattle and higher beef prices continued to support the market. Feeder cattle prices reported by Texas auctions were mostly steady to $7 higher for much of the week, but turned mostly steady to $3 lower on Friday and Saturday. Texas direct feeder cattle sales were mostly steady. The same factors continue to support the market as in past weeks — higher fed cattle, reduced feeder supplies and lower grain prices. However, lower feeder cattle futures and reduced buying interest at the current higher prices also pressured markets. Wholesale beef values were higher. Beef export sales for the three weeks ending Oct. 24 were up 71 percent from the previous three-week period, but remained about 12 percent behind where they were at this time last year. Cotton prices were lower as the advancing harvest continues to put additional supplies of new-crop cotton on the market. Export sales were more than three times higher than in the previous three-week period, but shipments were down 29 percent. Wheat prices were lower due to continued favorable weather in the U.S., a higher global production estimate and weak U.S. exports. Weekly export sales were down 38 percent from the previous period, and shipments were 40 percent lower. Corn and grain sorghum prices also declined as the advancing harvest continues to put more new-crop grain on the market. Ongoing reports of better than expected yields and speculation that USDA will raise its production forecast also added to the pressure. Weekly corn export sales were up 65 percent from the previous three weeks and much higher than expected. Mexico was the largest buyer. Futures markets were higher for lumber, but lower for feeder cattle, fed cattle, cotton, corn and wheat. Most of the state recorded rainfall during the week, with the heaviest totals east of a line from Texarkana to San Antonio to Victoria. Many locations in that area received two or more inches or rain with some locally-heavy rainfall totals in excess of 10 inches. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

(Please note: Next week’s market recap will be issued on Tuesday, Nov. 12, due to the Veterans’ Day holiday on Monday.)

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary Oct. 29, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 29 Oct 2013 14:32:00 +0000

For the week ending Oct. 26, 2013, Texas fed cattle cash prices set a new record high of $132.30 per hundredweight (cwt). Shrinking supplies of market-ready cattle were the primary reason for the increase. Feeder cattle prices reported by Texas auctions were steady to $10 higher per cwt as the higher fed cattle market worked its way down the supply chain. Grain prices were much lower than they were at this time last year, and smaller feeder supplies also contributed to the increase. Texas direct feeder cattle sales were mostly steady. Wholesale beef values were higher, but still well below the records set in May. Beef export sales for the week ending Oct. 3, the most recent available, were lower compared to both the previous week and the prior four-week average, but shipments were higher. Cotton prices were lower as the advancing harvest continues to put additional supplies of new-crop cotton on the market. Weak export sales, which were down 32 percent from the previous week and 52 percent lower than the prior four-week average, contributed to the decline. Wheat prices were lower due to favorable weather in the U.S., beneficial rains in areas of Argentina and the possibility of higher exports from India. Weekly export sales were down from both the previous week and the average, but still more than double the average needed to meet USDA projections for the marketing year. Corn prices also were lower as the advancing harvest continues to put more new-crop grain on the market. Ongoing reports of better than expected yields also added to the pressure. Weekly corn export sales were up 73 percent from the previous week, 75 higher than the prior four-week average and about four times higher than the weekly average needed to meet projections for the marketing year. Most of the state east of a line from Childress to Rio Grande City recorded rainfall during the week, with the heaviest totals in the Coastal Bend, east of I-35 and north of I-10. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary for Oct. 22, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 22 Oct 2013 13:45:00 +0000

For the week ending Oct. 19, 2013, feeder cattle prices reported by Texas auctions were steady to $10 higher per hundredweight (cwt). Smaller cattle supplies, lower corn prices and improved prospects for fall and winter grazing continued to support the market. The Texas direct feeder cattle report did not include a market trend, but the average price for 650-850 pound steers for current delivery was up $7.58 from the last report on Sept. 27. Feeder cattle futures were lower in response to higher grain futures. Fed cattle cash prices were up $1 per cwt, and fed cattle futures followed the cash market higher. USDA resumed its daily cotton and grain price reports on Thursday; however, comparisons to last week are not available. Cotton futures were lower, as the advancing harvest put increasing supplies of new-crop cotton on the market. Reports of higher than expected yields in the Southeast and Mississippi Delta, and news of lower Chinese imports contributed to the decline. Wheat futures prices were higher after Argentina reported that its production will likely be much lower than expected. The news offset the impact of more favorable growing weather in the U.S. and the Black Sea region, as well as news that India may increase its wheat exports. Corn futures prices followed wheat futures prices in an upward trend, despite ongoing reports of higher than expected yields and favorable harvest weather in many areas. Most of the state recorded rainfall last week with the heaviest totals, with some reports in excess of two inches, in Southeast Texas and in a band from north of Del Rio to Texarkana. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

* Reported in the Texas Cattle Feeders Association daily volume and price summary. All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary Oct. 15, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 15 Oct 2013 14:14:00 +0000

For the week ending Oct. 12, 2013, most of the cash prices normally covered by this recap remained unavailable because of the partial federal government shutdown. Feeder cattle prices reported by Texas auctions were steady to $8 higher per hundredweight (cwt). Smaller cattle supplies and lower corn prices continued to support the market. Fed cattle prices were up $2 per cwt from the previous week, according to the Texas Cattle Feeders Association. Feeder cattle and fed cattle futures prices were both higher for the week. Cotton futures were lower because of the drop in equities markets early in the week and forecasts for larger world supplies. The International Cotton Advisory Committee lowered its world production estimate, but also reduced its estimate of mill usage, resulting in higher than projected world supplies. Wheat futures prices were higher, as expectations for smaller production this year in Argentina and the Black Sea region are expected to boost worldwide demand for U.S. wheat. Corn futures prices were lower due to ongoing reports of higher than expected yields, favorable harvest weather in many areas and reports of a draft proposal by the U.S. Environmental Protection Agency that would reduce the ethanol usage mandates for 2013 and 2014. Rain fell statewide during the week with totals in excess of two inches common in Central, East and Southwest Texas, as well as on the Southern Low Plains. Some locations received eight inches or more of rain, with much of that falling on Saturday and Sunday. The weekly USDA NASS “Texas Crop Progress and Condition” report is not available.

* Reported in the Texas Cattle Feeders Association daily volume and price summary.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Oct. 8, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 08 Oct 2013 14:23:00 +0000

For the week ending Oct. 5, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $5 higher per hundredweight (cwt), with a few as much as $10 higher. Many of the cash prices usually covered by this recap are unavailable because of the partial federal government shutdown. Texas direct feeder cattle sales were unavailable, and the Oklahoma City National Stockyards were $3 to $6 higher. Buyers continue to discount bawling, unweaned offerings, but all classes are attracting attention thanks to tight cattle supplies and corn prices that are much lower than they were at this time last year. The nearby corn futures contract is at its lowest level since August 2010 in anticipation of a record-large harvest this fall. Fed cattle prices were unchanged from the previous week, according to the Texas Cattle Feeders Association. Cash prices and export data are not available for beef, cotton, grain sorghum, corn or wheat. Futures markets were higher for feeder cattle, cotton and wheat, but lower for fed cattle, corn and lumber. Much of the state east of a line from Del Rio to Vernon recorded rainfall during the week, with totals of one-half inch or more common in South Central Texas and along the Upper Coast. The weekly USDA NASS “Texas Crop Progress and Condition” report is not available.

* Reported in the Texas Cattle Feeders Association daily volume and price summary.
All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Oct. 1, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 01 Oct 2013 16:54:00 +0000

For the week ending Sept. 28, 2013, feeder cattle prices reported by Texas auctions were steady to as much as $10 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were steady to $5 higher, and the Oklahoma City National Stockyards were steady to $2 higher. Recent rains that have boosted prospects for fall and winter grazing, as well as smaller supplies and lower grain prices continued to support the feeder cattle market. Fed cattle prices were $2 per cwt higher than a week ago. Wholesale beef prices were modestly higher. Weekly beef export sales were down 45 percent from the previous week and 52 percent higher than the prior four-week average. Cumulative sales for the year are down 14 percent from a year ago. Cotton prices were higher after China said its crop will be smaller than earlier forecasts, and reports of heavy rains and damaging floods in India. Export sales were down 36 percent from the previous week, 43 percent lower than the prior four-week average and about half the average needed to meet USDA projections for the marketing year. Corn and grain sorghum prices were lower last week as the advancing harvest added to new-crop supplies, with reports of better than expected yields in some areas. Weekly corn export sales were up 46 percent from the previous week, but shipments were down eight percent. Wheat prices were higher because of potential frost damage in Argentina and expectations for continued strong export demand. Wheat exports were down 12 percent from a week ago, but one percent higher than the prior four-week average and nearly double the weekly average needed to meet projections for the marketing year. Futures markets were higher for feeder cattle, fed cattle, cotton, wheat and corn, but lower for lumber. Rain fell statewide last week with the largest totals of five inches or more in parts of Central, South and East Texas. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary, September 24, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 24 Sep 2013 14:36:00 +0000

For the week ending Sept. 21, 2013, feeder cattle prices reported by Texas auctions were $5 lower to $3 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $3 higher and the Oklahoma City National Stockyards were mostly steady to $5 higher. Several locations noted improved demand, but said buyers continue to discount unweaned calves compared to their weaned counterparts. Fed cattle prices were $1 per cwt higher than a week ago. Wholesale beef prices were lower. Weekly beef export sales were up three percent from the previous week and seven percent higher than the prior four-week average. Japan, Mexico and Hong Kong were the leading buyers. Cotton prices were modestly lower, with export sales down 23 percent from the previous week and 8 percent lower than the prior four-week average. Cotton shipments were also lower. Corn and grain sorghum prices declined last week. Weekly corn export sales totaled 437,400 metric tons, with Mexico, Japan and China as the leading buyers. Shipments during the week totaled nearly 519,000 metric tons. Wheat prices were higher with wheat export sales up 30 percent from a week ago and 25 percent higher than the prior four-week average. Shipments totaled 1.2 million metric tons, the highest volume so far this marketing year and 35 percent higher than the prior four-week average. China, Brazil and Japan were the primary destinations. Futures markets were higher for feeder cattle, wheat, corn and lumber, but lower for fed cattle and cotton. Rain fell statewide last week with the heaviest totals in Southeast Texas, South Texas, parts of the Panhandle and in a band from near Sanderson to Texarkana. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available here.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Sept. 17, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 17 Sep 2013 13:19:00 +0000

For the week ending Sept. 14, 2013, feeder cattle prices reported by Texas auctions were $8 lower to $6 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were steady and the Oklahoma City National Stockyards were mostly steady to $1 higher. Several locations noted significant discounts on unweaned calves compared to their weaned counterparts. Tight supplies continue to support feeder cattle prices, but volatile grain markets have created more uncertainty for feeder cattle buyers. Fed cattle prices were steady. Wholesale beef prices were lower. Weekly beef export sales were up six percent from last week and eight percent higher than the prior four-week average. Cumulative sales for the year are down 15.1 percent from this time a year ago. Cotton prices were higher after USDA’s production forecast and projected ending cotton stocks came in lower than expected. Exports were also supportive with weekly sales 53 percent higher than the prior four-week average and shipments up eight percent from the previous week. Corn and grain sorghum prices were lower following a USDA forecast showing a record-large corn crop and higher end-of-year supplies. Weekly corn export sales for the week for the current marketing year were lower than the average needed to meet USDA projections and sales for the just-completed 2012/13 marketing year were again negative as cancellations outweighed new commitments. Wheat prices were lower due to large world supplies and export competition from lower-priced overseas sources. Wheat export sales were down 19 percent from a week ago and one percent below the prior four-week average, but higher than the weekly average needed to meet USDA projections for the marketing year. Futures markets were higher for feeder cattle, cotton and lumber, but lower for fed cattle, wheat and corn. Parts of South Texas and the Panhandle received one-half inch or more of rain during the week, while other areas of the state recorded little or no rainfall. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available here.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary for Sept. 9, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 10 Sep 2013 14:26:00 +0000

For the week ending Sept. 7, 2013, feeder cattle prices reported by Texas auctions were $4 lower to $3 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were $1 to $3 higher. Fluctuating grain prices and the possibility this year’s corn crop might be smaller than previously predicted has introduced more uncertainty for feeder cattle buyers. This also has resulted in some instances of lower prices in spite of the shrinking supply. Fed cattle prices were steady. Wholesale beef prices were lower. Weekly beef export sales were down 24 percent from the previous week, but 17 percent higher than the prior four-week average. Cumulative sales for the year are down nearly 16 percent from last year. Cotton prices remained unchanged, as a decline in U.S. crop conditions and strong export sales were offset by ongoing uncertainty about Chinese cotton policies. Cotton export sales were more than double the previous week and nearly three times higher than the prior four-week average. China, Turkey and Thailand were the largest buyers. Corn and grain sorghum prices were lower due to pressure from increasing new-crop supplies, better than expected yields in parts of the South and weak exports. Weekly corn export sales for the current marketing year were negative for the third time in four weeks as cancellations outweighed new sales. Sales for the next marketing year were less than half the previous week and down 39 percent from the prior four-week average. Wheat prices were higher mostly because of strong export sales, up 21 percent from the previous week and 18 percent higher than the prior four-week average. Shipments totaled nearly 1 million metric tons, the highest weekly total for the marketing year. Futures markets were higher for fed cattle, wheat and lumber, but lower for feeder cattle, cotton and corn. One-half inch or more of rain fell during the week in much of the area south and east of a line from Eagle Pass to Brady to Lufkin. More details on agricultural weather and crop conditions are available in the weekly USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Sept. 4, 2013

noreply@blogger.com (Texas Department of Agriculture) — Wed, 04 Sep 2013 16:55:00 +0000

For the week ending Aug. 31, 2013, feeder cattle prices reported by Texas auctions were $5 lower to $6 higher per hundredweight (cwt) compared to the previous week. Texas direct feeder cattle sales were mostly steady, and the Oklahoma City National Stockyards were steady to $3 lower. Fluctuations in grain markets spilled over into the feeder market. Both commodities are major sources of input costs for cattle feeders, so when one goes up, the other tends to go down. However, tight feeder cattle supplies from a smaller cow herd continue to support the market, pushing prices higher at some locations and at least limiting the declines at others. Wholesale beef prices were lower. Weekly beef export sales were up 45 percent from the previous week and nearly double the prior four-week average. Cotton prices were modestly lower due to an improvement in U.S. crop conditions ratings and ongoing uncertainty about Chinese cotton policies. Weekly cotton export sales were down 15 percent from last week, but 47 percent higher than the prior four-week average. Corn and grain sorghum prices were near unchanged. Weather forecasts for hot, dry conditions in the western Corn Belt and a lower production forecast from a Midwest crop tour were offset by forecasts for rain in the eastern Corn Belt. Weekly corn export shipments were nearly double the previous week and one percent higher than the prior four-week average. Wheat prices were higher due to a lower production forecast for Australia and supportive export sales. Wheat export sales for the week were up 12 percent from the previous week and well above the weekly total needed to meet USDA marketing year projections, but down four percent from the previous four-week average. Futures markets were higher for feeder cattle, wheat and lumber, but lower for fed cattle, cotton and corn. One-half inch or more of rain fell during the week in a band from near Del Rio to Ft. Worth, and in parts of South and South-Central Texas. The rest of the state received little or no rain. Weekly updates on agricultural weather and crop conditions are available in the USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agricultural Market Summary, Aug. 27, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 27 Aug 2013 15:40:00 +0000

For the week ending Aug. 24, 2013, feeder cattle prices reported by Texas auctions were mostly steady to $8 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $2 higher, and the Oklahoma City National Stockyards were steady to $3 higher. Tight supplies, lower grain prices than at this time last year and improved fed cattle prices continued to support the market. Fed cattle cash prices were steady. Wholesale beef prices were higher for Choice, but lower for Select-grade offerings. Weekly beef export sales were up 26 percent from the previous week and 34 percent higher than the prior four-week average, but shipments were lower. Cotton prices were lower mostly due to speculative selling of the underlying futures contract. U.S. production will be lower this year; however, increased production in India, large world stocks and uncertainty about Chinese cotton policies also pressured the market. Weekly cotton export sales were more than double both the previous week and the prior four-week average. Shipments were down 14 percent from the previous week, but up 52 percent from the average. Corn prices were higher on forecasts for warmer, drier weather in the Corn Belt. Corn export sales were higher than in the previous week, but down 31 percent from the prior four-week average and well below the weekly total needed to meet USDA projections for the marketing year. Wheat prices declined due to larger production forecasts for Australia and Canada and continued strong export competition from other suppliers. Wheat export sales for the week were up one percent from the previous week and higher than the weekly average needed to meet USDA projections for the marketing year, but were down 20 percent from the prior four-week average. Futures markets were higher for feeder cattle and corn, but lower for fed cattle, cotton wheat and lumber. Most of the state recorded little or no rainfall during the week, though one-half inch or more of rain fell in scattered locations statewide. The heaviest amounts were reported in South Texas and along the coast. Weekly updates on agricultural weather and crop conditions are available in the USDA NASS “Texas Crop Progress and Condition” report available at www.texasagriculture.gov/Home/ProductionAgriculture/MarketNews.aspx

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.

Agriculture Market Summary, Aug. 20, 2013

noreply@blogger.com (Texas Department of Agriculture) — Tue, 20 Aug 2013 14:58:00 +0000

For the week ending Aug. 17, 2013, feeder cattle prices reported by Texas auctions were steady to $7 higher per hundredweight (cwt). Texas direct feeder cattle sales were steady to $3 higher, and the Oklahoma City National Stockyards were $3 to $5 higher. The likelihood of lower grain prices this fall, along with higher fed cattle and beef prices supported the market. Fed cattle cash prices were $2 higher per cwt, and wholesale beef prices were higher. Beef export sales were up 43 percent from the previous week and one percent higher than the prior four-week average. Weekly shipments were the highest for any one week so far this year, but cumulative shipments are still down 17.5 percent from the same period a year ago. Cotton prices were higher after USDA’s production forecast and projected ending stocks came in lower than expected and cotton condition ratings declined. Export sales for the first full week of the cotton marketing year totaled 38,500 bales, which is up 15 percent from the previous week and two percent higher than the prior four-week average. Corn prices were higher following a lower than expected USDA production forecast and lower-projected ending supplies. Corn export sales were a negative 59,100 metric tons as cancellations out-weighed new sales. Wheat prices followed other grains higher, but the increase was limited by large production in Europe and strong export competition from lower-cost suppliers. Weekly wheat export sales were down 33 percent from the previous week and 34 percent lower than the prior four-week average. Futures markets for feeder cattle, fed cattle, cotton, wheat, corn and lumber were higher. Much of the state from the Upper Coast to the South Plains and Panhandle received one-half inch or more of rain during the week, while other areas reported little or no rainfall. For the weekly update on agricultural weather and crop conditions from the USDA NASS “Texas Crop Progress and Condition” report, click here.

All cash prices above are market averages for locations covered by the USDA 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 at the Oklahoma City National Stockyards. Futures prices are quoted for the nearest month contract on the last trading day of the week. Timber prices are from the Texas A&M Forest Service, bimonthly “Texas Timber Price Trends.” MBF = thousand board feet. For additional information, contact TDA at (800) 835-5832 or visit our website, www.TexasAgriculture.gov.