Daily News Update, Jan. 29, 2008
Texas Department of Agriculture market
recap, 1-28-08
For the week ending Jan. 26, 2008,
feeder steer prices at Texas auctions were $2.49 per hundredweight
higher than the previous week as lower grain prices supported the feeder
market. Fed cattle prices were steady.
Cotton and grain prices fell sharply at
mid-week, mostly because of concerns about the general economy and
pressure from non-agricultural commodity markets. Corn and grain sorghum
prices recovered to close the week unchanged to slightly higher, but
wheat finished lower.
As for futures markets, both feeder and
finished cattle closed the week modestly higher, while cotton, wheat,
corn, and lumber futures were steady to lower.
Scattered showers were reported in many
areas of the state, with the heaviest rains falling in the Upper Coast,
Lower Rio Grande Valley and parts of South Central Texas. However, most
areas west of Interstate 35 reported that soil moisture is short to very
short.
The wheat crop continues to suffer from
a lack of moisture in many areas and is rated in mostly poor to very
poor condition. Fieldwork continues in preparation for spring planting.
- -
- - - - Week Ending - - - -
Texas Cash
Markets:
01/26/08 01/19/08 01/27/07
Feeder Steers
($/cwt)
104.79 102.30
102.55
Fed Cattle
($/cwt)
91.01 91.10
86.95
Slaughter Lambs
($/cwt)
114.00 110.00
134.50
Slaughter Goats
($/cwt)
118.00 114.50
129.50
Cotton
(¢/lb)
63.00 65.50
51.13
Grain Sorghum
($/bu)
8.12 8.12
6.94
Wheat
($/bu)
8.93 9.34
4.54
Corn
($/bu)
5.04 5.03
4.26
Oranges
($/carton)
7.84 7.88
16.75
Futures Markets:
Feeder Cattle
($/cwt)
98.60 97.67
Finished Cattle
($/cwt)
91.40 91.00
Cotton
(¢/lb)
67.89 70.73
Wheat
($/bu)
9.70 10.11
Corn
($/bu)
4.98 4.98
Lumber
($/1000 bd ft)
222.40 231.20
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 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 their Web site,
www.tdamarketnews.com.
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