2008-10-29 / Farm & Ranch

TDA Market Recap

October 27

AUSTIN - (Oct. 27, 2008) For the week ending Oct. 25, 2008, feeder cattle price trends at Texas auctions were mostly steady to $5 per hundredweight higher. Some locations noted prices were as much as $10 higher on offerings weighing less than 500 pounds. Fed cattle prices were higher by $1.00 per hundredweight. Cotton and grain prices ended the week lower to sharply lower as ongoing turmoil in the financial and credit markets again spilled over into commodities. As for futures markets, feeder cattle, finished cattle, cotton, wheat, corn and lumber closed the week lower. Only a few scattered showers were reported across the state last week. Areas of the Panhandle and West Texas recorded their first freeze, which may have damaged some immature cotton. Cotton harvest progressed to 22 percent complete, behind the normal 29 percent by this date. The corn crop was 78 percent harvested, well behind the 95 percent average. Winter wheat planting was 81 percent complete and 66 percent of the acreage has emerged. The crop is in mostly good to fair condition. Top soil moisture is adequate to short in most areas. Pastures are currently in fair to good condition.

- - - - - - Week Ending - - - - -
Texas Cash Markets: 10/18/08 10/11/08 10/20/07
Feeder Steers ($/cwt) 102.40 96.71 110.96
Fed Cattle ($/cwt) 90.83 89.95 92.93
Slaughter Lambs ($/cwt) 105.50 98.50 101.00
Slaughter Goats($/cwt) 111.00 108.00 104.00
Cotton (¢/lb) 44.50 50.75 61.25
Grain Sorghum ($/cwt) 5.19 5.62 6.12
Wheat ($/bu) 4.57 5.05 7.52
Corn ($/bu) 3.75 4.06 3.70
Grapefruit ($/carton) 15.65 16.30 15.40
Oranges ($/carton) 11.70 -- 11.80
Futures Markets:
Feeder Cattle ($/cwt) 96.15 98.40 118.35
Finished Cattle ($/cwt) 87.85 91.05 94.70
Cotton (¢/lb) 46.23 52.57 64.31
Wheat ($/bu) 5.47 5.98 8.06
Corn ($/bu) 3.73 4.03 3.77
Lumber ($/1000 bd ft) 180.00 199.00 226.30

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 our Web site, www.tdamarketnews.com.

Return to top