Grain prices affect cattle market

For the week ending March 29, 2008, feeder cattle prices at Texas auctions ranged from $5 per hundredweight higher to $8 lower compared with a week ago.

High feed grain prices continue to pressure the market, but the numbers offered for sale have also declined seasonally, which helped support feeder prices. Lower beef prices led to a decline in fed cattle markets.

Texas cash cotton prices were lower than a week ago, but still well above last year's level as demand remains good for the available supplies. Corn and grain sorghum markets were also higher, while wheat prices declined.

As for futures markets, cotton

and corn were higher, while feeder cattle, finished cattle, wheat and lumber closed the week lower.

A few scattered showers were reported last week, but most of the state remained dry with topsoil moisture rated mostly short to adequate statewide.

Wheat is 4 percent headed and reported in mostly poor to fair condition.

Corn planting progressed to 47 percent complete, slightly behind the normal 51 percent. Cotton planting is 7 percent complete.

Pastures continue to greenup, but supplemental feed is still necessary in many areas. Pasture condition was rated mostly fair to poor.