TDA Market Recap June 1, 2009

AUSTIN - (June 1, 2009) For the week ending May 30, 2009, feeder cattle price trends at Texas auctions were mixed, with some locations steady to $3 higher per hundredweight and others steady to $3 lower. Buyers remain very selective as they fill orders from a seasonally smaller supply of available cattle. Fed cattle prices declined in response to lower beef prices. Cotton and grain prices ended the week higher on a weaker U.S. dollar, higher crude oil prices and higher stock markets. Ongoing concerns about planting weather in the Midwest also supported prices. As for futures markets, feeder cattle, finished cattle and cotton were lower, while wheat, corn and lumber were higher. Scattered showers fell across the state during the week with the highest rainfall recorded in South Texas and on the Edwards Plateau. Wheat harvest progressed in the Blacklands and South Texas, and 98 percent of the crop is now headed. Cotton planting was active on the Plains and is 74 percent complete statewide. The emerged crop was reported to be in mostly good to fair condition. Corn planting is nearing completion and 32 percent of the acreage has tasseled. Pastures showed some improvement with the recent rains and were reported in mostly fair to good condition.