TDA Market Recap October 12, 2009

AUSTIN – (Oct. 12, 2009) For the week ending Oct. 10, 2009, feeder cattle prices at Texas auctions were mostly lower by $3 to $6 per hundredweight. Seasonally-higher numbers coming to sale and ongoing feedlot losses continued to pressure the markets. Fed cattle were also lower. Cotton prices increased after USDA reduced its forecast of 2009 production and grain prices were higher on concerns about cold weather in the Midwest. As for futures markets, feeder cattle, cotton, wheat, corn and lumber were higher, while fed cattle were lower. No weather and crop progress information is available for this week because the office that provides that report is closed for the Columbus Day federal holiday.