TSCRA Daily News Update, August 19, 2008

TDA market recap, 8-18-2008

For the week ending Aug. 16, feeder cattle price trends at Texas auctions were uneven, ranging from $5 per hundredweight higher to $3 lower. Fedcattle prices were steady.

Grain markets were higher for the week, but cotton prices were lower.

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

Most areas of the state reported scattered showers during the week. Rainfall amounts varied widely with some areas of the Plains and East Texas recording up to 5 inches. Other locations received little to no moisture.

Corn harvest progressed to 60 percent complete, well ahead of the normal 41 percent by this date. The crop remains in mostly good to fair condition. Rains delayed cotton harvest in the Coastal Bend. Statewide, bolls are opening on 18 percent of the acreage, slightly ahead of the normal pace, with the crop in mostly good to fair condition. Grain sorghum harvest was active in South Texas and is now 56 percent complete statewide.

Pasture conditions were rated mostly fair to poor.

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

Texas Cash Markets: 08/16/08 08/09/08 08/18/07

Feeder Steers ($/cwt) 110.85 111.35 115.68
Fed Cattle ($/cwt) 99.85 99.98 90.30

Slaughter Lambs ($/cwt) 102.00 92.00 95.00
Slaughter Goats ($/cwt) 108.50 95.00 106.00

Cotton (¢/lb) 61.75 64.25 52.00

Grain Sorghum           ($/bu)        8.34       7.65         5.51
Wheat                   ($/bu)        7.81     7.22         5.90
Corn                    ($/bu)        5.22       4.87         3.52

Watermelons ($/lb) 0.15 0.17 0.10

Futures Markets:

Feeder Cattle ($/cwt) 113.90 114.63 116.43
Finished Cattle ($/cwt) 101.68 101.48 91.95

Cotton                  (¢/lb)       65.07        67.25        55.50
Wheat                   ($/bu)        8.63         8.04         6.51
Corn                    ($/bu)        5.30        4.99         3.29

Lumber ($/1000 bd ft) 265.10 256.90 278.20

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.

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.