TSCRA Daily News Update, May 6, 2008

TDA Market Recap, May 5, 2008

For the week ending May 3, feeder cattle prices at Texas auctions were again mixed, from $4 per hundredweight lower to as much as $10 higher compared with a week ago. Fed cattle prices were slightly higher.

Texas cash cotton prices were lower as prices continue to adjust to higher global supplies. Corn prices increased as planting progress fell farther behind in theMidwest.

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

Some areas of East, South and South Central Texas recorded up to an inch of rain, but weather for most of the state was dry and windy.

Cotton planting was underway on the Plains and now stands at 24 percent complete statewide. Corn is 72 percent planted, behind the normal 83 percent, with the emerged acreage reported in mostly good to fair condition. Grain sorghum planting is 66 percent complete, ahead of the normal 56 percent. The wheat crop is 56 percent headed and remains in fair to very poor condition.

The ratings for soil moisture are very short to short on the Plains and in the Trans-Pecos region and adequate to short elsewhere.

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

Texas Cash Markets: 05/03/08 04/26/08 05/05/07

Feeder Steers ($/cwt) 112.69 110.05 118.91
Fed Cattle ($/cwt) 92.02 91.92 96.07

Slaughter Lambs ($/cwt) 114.00 124.50 111.00
Slaughter Goats ($/cwt) 141.50 144.00 135.75

Cotton                          (¢/lb)                     63.50          64.50         47.82
Grain Sorghum          ($/bu)                     10.09             9.41             6.50
Wheat                         ($/bu)                      8.02              7.78             4.50
Corn                            ($/bu)                      6.03              5.87             3.92
Onions                  ($/carton)                      9.50               9.00           19.00

Futures Markets:

Feeder Cattle ($/cwt) 105.65 107.75 107.15
Finished Cattle ($/cwt) 92.13 93.37 92.18

Cotton                       (¢/lb)                        67.05           68.46           46.30
Wheat                       ($/bu)                      8.98                 8.55              4.76
Corn                          ($/bu)                      6.02                 5.77              3.81

Lumber ($/1000 bd ft) 216.60 214.70

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.