TSCRA Daily News Update, July 8, 2008

TDA Market Recap July 7, 2008

For the week ending July 5, feeder cattle prices at Texas auctions ranged from unchanged to $2 per hundredweight higher compared with a week ago in light holiday-week trade. Fed cattle prices were also higher as beef prices continued to increase.

Cotton, corn and grain sorghum prices declined after planted acres were reported to be higher than earlier projections. As for futures markets, finished cattle and lumber closed higher, while feeder cattle, cotton, wheat and corn closed lower.

Scattered showers were reported over much of the state, with some locations in the Lower Valley and South Texas recording up to 4 inches of rain. Topsoil moisture remains short to adequate statewide.

Wheat harvest is nearing completion in most areas. Cotton is squaring on 45 percent of the acreage and is beginning to set bolls on the Plains. The crop is reported in mostly fair to good condition.

Corn continues to mature in South Central Texas and the Blacklands and 60 percent of the acreage is now tasseled statewide. Grain sorghum planting is nearing completion on the Plains, while harvest is underway in southern locations.

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

Texas Cash Markets: 07/05/08 06/28/08 07/07/07

Feeder Steers ($/cwt) 111.69 110.67 111.22
Fed Cattle ($/cwt) 101.97 99.03 89.97

Slaughter Lambs ($/cwt) * 87.00 88.50
Slaughter Goats ($/cwt) * 107.50 109.25

Cotton                 (¢/lb)      63.75       66.75     56.00
Grain Sorghum           ($/bu)      12.33        12.62        5.65
Wheat                   ($/bu)         8.32        8.54       5.44
Corn                    ($/bu)         7.46        7.57       3.71
Watermelons             ($/lb)         0.17         0.17        0.12

Futures Markets:

Feeder Cattle ($/cwt) 111.58 111.73 114.70
Finished Cattle ($/cwt) 103.80 105.10 92.50

Cotton                  (¢/lb)      68.02         73.41       60.00
Wheat                   ($/bu)         9.05          9.25        6.11
Corn                    ($/bu)         7.46         7.55        3.35

Lumber ($/1000 bd ft) 248.50 243.00 288.50

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.

* Price not available this week as all the auctions covered by Market News were closed for the Independence Day holiday.

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