Daily News Update,
Nov. 20, 2007
TDA Market Recap,
Nov. 19, 2007
For the week ending Nov. 17, 2007, feeder steer prices at Texas auctions
increased from a week ago to average $107.69 per hundredweight. Demand
was high, especially for the limited supply of yearlings as some
producers held back on sales in hopes for higher prices in the coming
weeks. Fed cattle prices were modestly higher on improved beef values.
Cotton,
grain sorghum, wheat and corn cash markets all closed the week somewhat
lower as volatile energy markets and the fluctuating value of the U.S.
dollar spilled over to the agricultural sector. As for futures markets,
feeder cattle futures closed the week higher, while cotton, wheat, corn
and finished cattle ended the week lower.
Cool and
dry weather conditions persisted statewide for most of the week, with
some scattered rainfall reported at week's end. Cotton harvest continued
in the Panhandle and was virtually complete in South Central Texas and
the Blacklands.
Grain
sorghum harvest is nearing completion. Soil moisture was reported short
to adequate across the state. Pasture conditions continue to decline
statewide because of the dry conditions.
__________Week Ending__________
Cash
Markets:
11/17/07 11/10/07
11/11/06
Feeder Steers
($/cwt) 107.69 104.19
99.75
Fed Cattle
($/cwt)
92.62
92.34
86.85
Slaughter Lambs
($/cwt)
110.00
101.00
101.00
Slaughter Goats
($/cwt)
115.50
111.00
106.50
Cotton (¢ / lb)
61.00 62.00
48.38
Grain Sorghum ($ / bu)
6.17 6.26
6.27
Wheat (¢ / lb)
6.99
7.09
4.75
Corn ($ / bu)
3.83 3.94
3.81
Oranges
($ / carton)
9.71
9.84
10.42
Futures Markets:
Feeder Cattle
($/cwt) 109.13 107.95
Finished Cattle
($/cwt) 95.30
95.50
Cotton
(¢ / lb)
60.90
64.64
Wheat
(¢ / lb)
7.75
7.85
Corn ($ / bu)
3.80
3.87
The cash prices above are market averages and do not reflect any
particular sale at any specific location. As indicated, livestock are
priced in dollars per hundredweight, cotton in cents per pound, grains
in dollars per bushel, and watermelons in cents per pound. 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.
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