TDA Market Recap October 19, 2009

AUSTIN – (Oct. 19, 2009) For the week ending Oct. 17, 2009, feeder cattle prices at Texas auctions were mostly steady to $3 higher per hundredweight. Lighter offerings for sale at some locations and increasing demand for cattle for fall and winter grazing contributed to the increase. Fed cattle were $1.50 higher. Cotton prices were higher amid concerns that cool, wet weather would hurt the crop in the Mississippi Delta. Grain prices were higher because of cold weather and possible harvest delays in the Midwest. As for futures markets, feeder cattle, fed cattle, cotton, wheat, corn and lumber ended the week higher. Parts of East Texas received up to six inches of rain during the week with light to moderate amounts recorded elsewhere. On the High Plains, freezing temperatures ended cotton and grain sorghum development, winter wheat planting continued and sunflower harvest was underway. In the Northern Low Plains, cold weather delayed cotton maturity and emerging winter wheat needed warmer temperatures to aid growth. Wet conditions delayed wheat planting in the Cross Timbers region. In South Texas, wheat and oats continued to emerge and cotton made good progress in the Edwards Plateau. Recent rains and cooler temperatures have improved pasture conditions over much of southern Texas. Topsoil moisture was rated mostly short to adequate statewide.