TDA Market Recap March 2, 2009

AUSTIN - (Mar. 2, 2009) For the week ending Feb. 28, 2009, feeder cattle price trends at Texas auctions were mixed, from $4 lower to $5 higher per hundredweight. Fed cattle prices were $2 higher. Cotton prices continue to fall because of weak global demand. Corn and grain sorghum prices were higher as gains early in the week more than offset later declines. As for futures markets, feeder cattle, finished cattle, corn and lumber

ended the week higher, while cotton and wheat were lower. Little or no rain was recorded statewide. Topsoil moisture remains in mostly short to very short supply and pastures are very dry and in need of rain. Corn and grain sorghum planting are underway in many areas and preparations for cotton planting were active. The wheat crop was reported to be in very poor to fair condition in most areas.