TDA Market Recap June 29, 2009

AUSTIN – (June 29, 2009) For the week ending June 27, 2009, feeder cattle prices at Texas auctions were mostly steady to $3 higher per hundred-weight, but some lateweek sales were as much as $3 lower, especially on calves weighing less than 500 pounds. Finished cattle prices were steady. Cotton prices were unchanged and grain prices were lower. As for futures markets, feeder cattle, finished cattle and cotton were higher, while wheat, corn and lumber were lower. Most of the state recorded little or no rainfall last week, while parts of North Texas had up to two inches of rain. Record or nearrecord high temperatures were also reported in many locations. Wheat harvest progressed to 70 percent complete compared to 79 on average by this date, with the crop reported in mostly very poor to fair condition. Cotton planting was completed and 12 percent of the acreage is setting bolls. Grain sorghum planting is nearing completion in the High Plains. The crop is maturing quickly in South Texas and the Upper Coast. Pastures were reported to be in mostly very poor to fair condition across the state because of the hot, dry weather.