TDA Market Recap, 5-27-08

TSCRA Daily News Update, May 28, 2008

TDA Market Recap, May 27, 2008

For the week ending May 24, feeder cattle prices at Texas auctions were mostly steady to $5 per hundredweight higher, except calves under 500 pounds were as much as $5 lower at a few locations. Fed cattle prices also increased.

Cotton prices declined as large stocks continue to weigh on the market. Corn prices rose because of ongoing concerns about planting progress and crop emergence in the Midwest.

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

Parts of West Texas recorded up to 2 inches of rain, but most areas observed little to no precipitation. Topsoil moisture was rated adequate to short statewide.

Wheat harvest continued in South Texas with 6 percent of the crop harvested and 93 percent of the acreage headed. Corn planting neared completion on the Plains with the emerged crop reported in fair to good condition. Cotton planting progressed to 56 percent complete, only slightly behind the 59 percent average by this date.

Pasture conditions were rated good to fair.

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

Texas Cash Markets: 05/24/08 05/17/08 05/26/07

Feeder Steers ($/cwt) 113.51 111.09 118.28
Fed Cattle ($/cwt) 94.93 94.35 94.77

Slaughter Lambs ($/cwt) 106.00 109.00 100.00
Slaughter Goats ($/cwt) 127.50 129.00 128.50

Cotton                         (¢/lb)           62.75              64.00              50.50
Grain Sorghum         ($/bu)               9.86               9.70               6.36
Wheat                         ($/bu)              7.13               7.40                4.54
Corn                            ($/bu)              6.00               5.91                3.94

Onions ($/carton) 10.00 9.75 9.00

Futures Markets:

Feeder Cattle ($/cwt) 115.23 113.08 110.95
Finished Cattle ($/cwt) 96.18 93.88 91.05

Cotton                     (¢/lb)                69.21             71.96                51.14
Wheat                    ($/bu)                    7.98               8.24                  4.89
Corn                       ($/bu)                   6.00               5.91                  3.76

Lumber ($/1000 bd ft) 251.00 245.90

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.