TDA Market Recap, June 30, 2008

TSCRA Daily News Update, July 1, 2008

TDA Market Recap, June 30, 2008

For the week ending June 28, feeder cattle prices at Texas auctions were higher with the average for 500-600 pounds steers up by more than $5 per hundredweight. Fed cattle prices also increased in response to higher grain and beef prices.

Corn and grain sorghum markets were higher on continued concerns about weather in the Midwest and higher oil prices. Wheat prices also increased as rains delayed harvest in some areas.

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

Some locations in East Texas, the Plains and Edwards Plateau recorded up to three inches of rain for the week, but many areas remain very dry. Topsoil moisture was rated in short to adequate supply in the northern half of the state, while southern areas remain mostly short to very short.

Wheat harvest progressed to 81 percent complete with the crop rated in mostly fair to poor condition. Cotton planting is nearing completion and 35 percent of the acreage is squaring. Grain sorghum planting continues on the Plains while harvest is underway in South Texas.

Pastures were reported in fair to poor condition statewide with most needing moisture.

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

Texas Cash Markets: 06/28/08 06/21/08 06/30/07

Feeder Steers ($/cwt) 110.67 105.52 110.19
Fed Cattle ($/cwt) 99.03 95.97 87.00

Slaughter Lambs ($/cwt) 87.00 82.50 88.00
Slaughter Goats ($/cwt) 107.50 93.00 107.00

Cotton                                   (¢/lb)                               66.75                  66.50            55.75
Grain Sorghum                     ($/bu)                             12.62                  12.10                5.57
Wheat                                    ($/bu)                              8.54                   8.48                  5.49
Corn                                      ($/bu)                              7.57                    7.22                  3.63

Watermelons ($/lb) 0.17 0.17 0.12

Futures Markets:

Feeder Cattle ($/cwt) 111.73 113.58 111.55
Finished Cattle ($/cwt) 100.98 95.58 85.50

Cotton                             (¢/lb)                                     73.41             71.67                  58.50
Wheat                             ($/bu)                                       9.25                  9.15                   5.97
Corn                                ($/bu)                                       7.55                  7.21                   3.30

Lumber ($/1000 bd ft) 243.00 250.90

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 their Web site, www.tdamarketnews.com.