TSCRA Daily News Update

TDA Market Recap, 4-12-08

For the week ending April 12, 2008, feeder cattle prices at Texas auctions were from $6 per hundredweight higher to $6 lower, with the average for 500-600 pound steers up $1.23. Seasonally lower numbers offered for sale are helping to support the market, especially for higher-quality cattle. Fed cattle prices were higher.

Cash grain prices were lower. Corn declined on weekly export sales that were lower than expected and forecasts for improved planting weather in the Midwest. Wheat prices were also lower on expectations for a larger global crop.

As for futures markets, feeder cattle, finished cattle, and cotton prices were higher, while corn and wheat were lower. Lumber futures were modestly higher.

Strong storms, high winds and rain were reported in northern regions of the state. Other areas received little or no rainfall.

Cotton planting was reported 59 percent complete, behind the 64 percent average, with the acreage rated in mostly good to fair condition. The winter wheat crop is 13 percent headed. Recent rains were beneficial, but the crop remains in mostly poor to fair condition statewide.

Supplemental livestock feeding decreased as pastures began to green-up in most areas of the state.

                                                                       - - - - - - Week Ending  - - - -

Texas Cash Markets:                                                   04/05/08      04/05/08     04/14/07

Feeder Steers                    ($/cwt)                                  109.44        108.21         123.68
Fed Cattle                           ($/cwt)                                   86.99            85.85           98.00

Slaughter Lambs                ($/cwt)                                   122.00        113.50       124.50
Slaughter Goats                 ($/cwt)                                   141.50       133.00        143.00

Cotton                                   (¢/lb)                                       65.25         63.50         50.91
Grain Sorghum                   ($/bu)                                         9.68           9.78           6.32
Wheat                                  ($/bu)                                         8.73           9.48           4.61
Corn                                     ($/bu)                                         5.82           5.93           3.84

Oranges                        ($/carton)                                         8.63           8.63          13.25
Onions                          ($/carton)                                          9.50           9.00          27.00

Futures Markets:             

Feeder Cattle                  ($/cwt)                                         99.50         98.60
Finished Cattle                ($/cwt)                                         88.70         87.90

Cotton                                 (¢/lb)                                         74.16         70.86
Wheat                                ($/bu)                                           9.54         10.29
Corn                                   ($/bu)                                           5.84           5.98

Lumber                      ($/1000 bd ft)                                    229.10       229.00

 
The cash prices above are market averages for locations covered by the TDA Market News program and do not reflect any particular sale at any specific location.

Feeder cattle prices are for 500-600 pound medium and large No. 1 steers.

Sawlog and pulpwood prices are reported bimonthly by the Texas Forest Service. Futures prices are quoted for the nearest month contract on the last trading day of the week.

For additional information, contact TDA Market News at 800/252-3407 or visit their Web site, www.tdamarketnews.com.

© Texas and Southwestern Cattle Raisers Association