Daily News Update,
Nov. 27, 2007
TDA Market Recap,
Nov. 26, 2007
For the week ending Nov. 24, 2007, cash feeder steer prices at Texas
auctions were lower in very light holiday week trading. Cash fed cattle
prices were up $2.48 per hundredweight from the previous week as higher
beef values carried over to the live cattle market.
Cotton, corn and grain sorghum prices were slightly lower. Wheat markets
were sharply higher as dry conditions on the South Plains raised
concerns about the 2008 crop. As for futures markets, feeder cattle, fed
cattle and wheat closed higher, while corn and cotton closed lower.
Dry and unseasonably warm weather early in the week gave way to much
cooler temperatures by week's end with most areas of the state receiving
at least some precipitation. Portions of East Texas and the Upper Coast
reported up to 3 inches of rain, while some locations in West Texas
recorded their first snowfall of the year. However, soil moisture
remains mostly short to adequate across the state.
Winter
wheat was reported in fair to very poor conditions with most of the
acreage in need of additional moisture. Cotton harvest was mostly
complete in the Blacklands and South Texas and progressing well in the
South Plains and Panhandle. Statewide, harvest is 69 percent complete,
ahead of the normal 62 percent. Peanut harvest is nearing completion
with condition reported mostly fair to good. Pasture conditions continue
to decline with the lack of rainfall and cooler temperatures.
__________Week Ending__________
Cash
Markets:
11/24/07 11/17/07
11/24/06
Feeder Steers
($/cwt) 105.54 107.69
106.99
Fed Cattle
($/cwt)
95.10
92.62
87.40
Slaughter Lambs
($/cwt)
110.00
110.00
101.00
Slaughter Goats
($/cwt)
115.50
115.50
106.50
Cotton (¢ / lb)
60.75 61.00
48.38
Grain Sorghum ($ / bu)
6.16 6.17
6.27
Wheat (¢ / lb)
7.24
6.99 4.75
Corn ($ / bu)
3.82 3.83 3.81
Oranges
($ / carton)
9.71
9.71
11.42
Futures Markets:
Feeder Cattle
($/cwt) 110.70 109.13
Finished Cattle
($/cwt) 96.78
95.30
Cotton
(¢ / lb)
60.07
60.90
Wheat
(¢ / lb)
8.54
7.75
Corn ($ / bu)
3.79
3.80
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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