Steer prices rise while grain ends week lower

For the week ending Nov. 17, 2007, feeder steer prices at Texas auctions increased from a week ago to average $107.69 per hundredweight. Demand was high, especially for the limited supply of yearlings as some producers held back on sales in hopes for higher prices in the coming weeks.

Fed cattle prices were modestly higher on improved beef values.

Cotton, grain sorghum, wheat and corn cash markets all closed the week somewhat lower as volatile energy markets and the fluctuating value of the U.S. dollar spilled over to the agricultural sector.

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

Cool and dry weather conditions persisted statewide for most of the week, with some scattered rainfall reported at week's end.

Cotton harvest continued in the Panhandle and was virtually complete in South Central Texas and the Blacklands. Grain sorghum harvest is nearing completion.

Soil moisture was reported short to adequate across the state. Pasture conditions continue to decline statewide because of the dry conditions.