TDA Market Recap December 29, 2008

AUSTIN - (Dec. 29, 2008) For the week ending Dec. 27, 2008, fed cattle prices were $1 higher per hundredweight as higher beef prices allowed processors to increase bids. Feeder cattle prices for Texas auctions are not available since all the locations covered by TDA Market News were closed last week for the holidays. Cotton and grain prices were higher. A somewhat weaker dollar was expected to increase export demand. Wheat prices also received a boost from the cold, wet weather in the Midwest. As for futures markets, cotton, wheat and corn ended the week higher while feeder cattle, fed cattle and lumber closed lower. Weather and crop progress information are not available, as USDA has discontinued its reports until after the first of the year.