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News August 22, 2017  RSS feed

TDA Market Recap

AUSTIN – (August 14, 2017) For the week ending August 11, 2017, Texas feeder cattle auctions reported mixed prices with instances of steady to $7 lower and steady to $5 higher. Texas Weekly Direct reported prices mostly $1 to $2 lower on limited comparable sales. Wholesale Beef values were lower at the end of the week, with Choice Grade losing $3.12 to end at $199.60 per hundredweight (cwt) and Select Grade losing 88 cents to end at $196.12 per cwt. For the time period of July 31 – August 6, 2017, the USDA NASS Field Office reported that livestock conditions in South Central, South Texas and the Lower Valley have declined. Producers were providing supplemental feed for livestock due to drought conditions. However, range and pasture condition was still rated mostly fair to good across the rest of the state. For the time period of July 28 – August 3, 2017 net sales of beef totaled 16,400 metric tons (MT) and were up 44 percent from the previous week and 31 percent from the prior four-week average. Increases were reported primarily for Japan, Hong Kong and South Korea. Exports totaled 14,700 MT and were down three percent from the previous week, but up three percent from the prior

Cotton prices were lower at the close of last week with cash prices losing 0.25 cents to end at 68.75 cents per pound and October futures losing 1.98 cents to end at 69.24 cents per bushel. The USDA NASS Field Office reported that cotton farmers in the Northern Low Plains were concerned low temperatures could affect cotton growth. Cotton harvest started in areas of the Upper Coast and continued in South Texas and the Lower Valley. Net sales, for the 2017-2018 marketing year — which began August 1, totaled 75,800 running bales.

Wheat prices were lower at the close of last week with cash prices losing 11 cents to end at $3.90 per bushel and September futures losing 26 cents to end at $4.41 per bushel. The USDA NASS Field Office reported that field preparations were underway for the 2017 wheat and oats crops. Corn prices were lower at the close of last week with cash and September futures both losing 11 cents and both closing at $3.61 per bushel. The USDA NASS Field Office reported that corn harvest continued in areas where weather conditions allowed. Net sales totaled 628,400 MT and were reported primarily for Colombia, Mexico and unknown destinations. Exports totaled 973,500 MT and were down 11 percent from the previous week, but unchanged from the prior four-week average. The primary destinations were Japan, Mexico Colombia.

Grain Sorghum cash prices were lower at the close of last week, losing 15 cents to end at $5.41 per cwt. The USDA NASS reported that sorghum harvest continued in the Upper Coast, South Texas and the Lower Valley. Net sales totaled 145,500.

This week’s U.S. Drought Monitor for Texas showed improving drought conditions for the state, with 20.03 percent of Texas still in some stage of drought intensity, down 6.49 percentage points from last week. Additionally, none of the state remains in severe, extreme, or exceptional drought, on par with three months ago. On the national level, drought conditions improved slightly, with 29.77 percent of the U.S. experiencing abnormal dryness or some degree of drought, down 0.75 percentage points.


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