Daily News Update, Dec. 18, 2007
TDA market
recap, 12-17-07
For the
week ending Dec. 15, 2007, cash feeder steer prices at Texas auctions
were down sharply as buyers scaled back purchases ahead of the holidays
and wintry weather in the Panhandle cut into demand from feedlots.
Higher feed grain costs also pressured the market.
Fed
cattle cash prices were also lower amid lighter demand from packers and
steady to lower beef prices. Texas cotton and grain markets finished the
week higher.
Strong export sales and anticipated higher demand for ethanol boosted
corn and grain sorghum markets. Wheat prices received an additional
boost from ongoing concerns about global supplies.
As
for futures markets, feeder cattle and fed cattle futures closed the
week lower, while cotton, wheat and corn finished higher.
Agricultural weather and crop progress information were not available
for this week's report.
- - - - - Week Ending - - - - -
Texas Cash Markets:
12/15/07 12/08/07
12/16/06
Feeder
Steers
($/cwt)
108.62 112.03
106.82
Fed Cattle
($/cwt)
93.16 94.01
85.22
Slaughter Lambs
($/cwt)
115.00 113.50
107.50
Slaughter Goats
($/cwt)
114.00 114.00
107.50
Cotton
(¢/lb)
59.75 58.75
50.38
Grain Sorghum
($/bu)
7.12 6.75
6.42
Wheat
($/bu)
9.23 8.74
4.66
Corn
($/bu)
4.43 4.26
3.90
Oranges
($/carton)
9.21 9.71
9.42
Futures Markets:
Feeder Cattle
($/cwt)
103.80 105.95
Finished Cattle
($/cwt)
92.60 94.03
Cotton
(¢/lb)
65.85 64.55
Wheat
($/bu)
10.00 9.49
Corn
($/bu)
4.20 4.00
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 the TDA
market Web site,
www.tdamarketnews.com.
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