TDA Market Recap January 25, 2010

AUSTIN – (Jan. 25, 2010) For the week ending Jan. 23, feeder cattle prices at Texas auctions were steady to $6 higher per hundredweight on offerings weighing less than 600 pounds and steady to $2 higher on heavier weights. Lower grain prices and demand for cattle for winter grazing supported the market. Fed cattle prices were 50 cents to $1 higher per hundredweight as sellers were able to capture some of the recent gains in beef prices. Cotton and grain prices were lower as markets continued to adjust to the most recent supply and demand reports. Lower crude oil and stock markets contributed to the declines. As for futures markets, lumber was higher, while feeder and fed cattle, cotton, corn and wheat were lower. Parts of the Trans-Pecos, Edwards Plateau and East Texas recorded up to 1.5 inches of rain during the week while other areas reported little or no rainfall. Topsoil moisture was rated mostly short to adequate statewide, with some surplus conditions in East and Central Texas. Wheat on the High Plains suffered from dry conditions and high winds, but warmer temperatures and recent rains improved conditions in the Blacklands region and South Texas. Overall, the crop was rated in mostly fair to good condition. In many areas, field preparations are underway for spring planting. Pastures remain in mostly fair to poor condition.