Daily News Update, Jan. 8, 2008
TDA Market Recap,
Jan. 07, 2008
For the
week ending Jan. 5, 2008, cash feeder steer prices at Texas auctions
averaged $115.43 per hundred-weight in very light holiday-week trade.
Fed cattle cash prices were higher as packers secured supplies following
the holidays and resumed a full-week processing schedule.
Cash
cotton, corn and grain sorghum markets closed the week higher with good
demand and tight supplies continuing to boost the market. Wheat prices
finished lower than the previous week, but still almost double the price
at this time last year. As for futures markets, feeder cattle and wheat
were lower, while cotton, fed cattle, and corn were higher.
Weather
conditions during the week ranged from very cold early in the week to
unseasonably warm over the weekend, with little rain reported statewide.
Cotton harvest is nearing completion in the Panhandle while land
preparations for this year's crop are underway in the Trans-Pecos and
Coastal Bend.
Winter
wheat continues to suffer from lack of moisture and ranges in rating
from mostly fair to very poor condition. Pastures were reported in
mostly fair condition with supplemental feeding necessary in many areas.
- - - - - - Week Ending - - - -
Texas Cash
Markets: 1/5/08
12/15/07 1/6/07
Feeder
Steers ($/cwt)
115.43 108.62 107.67
Fed Cattle
($/cwt) 95.02 93.16 89.95
Slaughter Lambs ($/cwt)
123.50 115.00 104.50
Slaughter Goats ($/cwt)
119.50 114.00 113.50
Cotton
(¢/lb)
62.75 59.75 52.38
Grain Sorghum ($/bu)
7.66
7.12
6.27
Wheat ($/bu)
8.69 9.23
4.40
Corn ($/bu)
4.77 4.43
3.88
Oranges ($/carton)
8.21
9.21 9.42
Futures
Markets:
Feeder
Cattle ($/cwt) 100.33 103.80
Finished Cattle ($/cwt) 94.55
92.60
Cotton (¢/lb)
68.69 65.85
Wheat ($/bu)
9.46 10.00
Corn ($/bu)
4.67
4.20
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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