Feeder cattle prices down as grain numbers increase

The Texas Department of Agriculture market recap for the week ending Sept. 29 shows cash feeder cattle prices declined for the third consecutive week under pressure from feed grain prices and seasonally higher numbers coming to market.

Fed cattle prices were higher with fewer cattle available for sale and increased competition among packers.

Corn prices closed the week slightly lower when USDA reported higher than expected quantities in storage. Cash cotton prices were higher as export markets continue to expand.

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

Warm and dry conditions continued across most of the state last week with some light showers reported in East and South Central Texas. Cotton harvest was underway in southern and central counties as growers on the Southern High Plains prepared to begin.

Corn harvest made good progress on the Northern High Plains and neared completion elsewhere. Pastures were reported in mostly good condition.