TDA Market Recap, (4-28-08)

TSCRA Daily News Update, April 29, 2008

TDA Market Recap, (4-28-08)

For the week ending April 26, feeder cattle prices at Texas auctions were mixed, ranging from $4 per hundredweight lower to as much as $8 higher compared to the previous week. Lighter calves showed the biggest declines early in the week. Seasonally lower supplies and lower grain prices supported the market.

Cash fed cattle prices increased ashigher beef prices helped improve packer margins.

Cash cotton prices declined with large inventories and slowing global demand pressuring markets. Corn and wheat prices were also lower.

As for futures markets, feeder cattle and finished cattle ended the week higher, while cotton, wheat, corn and lumber all closed lower.

Showers and thunderstorms swept across much of the state over the weekend, with some areas receiving more than 3 inches of rain. However, very little rain fell in the Panhandle and Trans Pecos regions.

The state's wheat crop is 38 percent headed, behind the normal 48 percent, and reported in mostly fair to poor condition. Cotton planting progressed to 21 percent complete, equal to the average pace. Producers have planted two-thirds of the corn and grain sorghum crops, with the emerged acreage reported in mostly fair to good condition.

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

Texas Cash Markets: 04/26/08 04/19/08 04/28/07

Feeder Steers ($/cwt) 110.05 114.30 116.80
Fed Cattle ($/cwt) 91.92 89.96 96.00

Slaughter Lambs ($/cwt) 124.50 125.00 114.50
Slaughter Goats ($/cwt) 144.00 146.00 141.00

Cotton                                      (¢/lb)              64.50               65.75                49.53
Grain Sorghum                      ($/bu)               9.41                 9.99                   6.27
Wheat                                     ($/bu)               7.78              8.59                   4.68
Corn                                        ($/bu)               5.87                6.10                   3.77

Onions ($/carton) 9.00 9.00 25.00

Futures Markets:

Feeder Cattle ($/cwt) 107.75 105.73 108.55
Finished Cattle ($/cwt) 92.28 89.55 97.20

Cotton                            (¢/lb)                          68.46              71.75           47.90
Wheat                         ($/bu)                             8.55                9.39              4.99
Corn                              ($/bu)                             5.77                5.99              3.64

Lumber ($/1000 bd ft) 214.70 221.20

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.

The Texas Forest Service reports Sawlog and pulpwood prices bimonthly.

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 the TDA Web site, www.tdamarketnews.com.