Plains Fed Cattle Still Unsold At Midweek In Face Of $64 Bids

Plains Fed Cattle Still Unsold
At Midweek In Face Of $64 Bids

Plains fed cattle trading remained at a standstill through midweek, packers dropping bids another $2 to $64 and feedlots hoping to hold out for steady money at least and an increase if possible.

Texas Panhandle feedyards were asking $67-68 through Wednesday. Observers said they would "entertain" steady bids at $66, but $64 was simply out of the question. Feeders had no inclination to take another $2 hit this week on top of the $4 they've given up over the past two weeks.

The Texas Cattle Feeders Association reported a showlist of 77,869 head in their market area and captive movement of 54,925 head.

Trading elsewhere was equally quiet. USDA's five-area direct trade summary found limited live basis deals in the $65 range, dressed prices mostly $103-105. Midwest terminals paid in the neighborhood of $63-65 for the bulk of offerings with high percentage Choice lots $66-66.85.

Sinking fed cattle trends took a bite out of the stocker and feeder cattle market.

St. Joseph, Mo. sold 1500 head in a light test that found prices mostly steady, but a roundup of four Florida auctions with 7618 head between them reported steady to $2 lower rates. With receipts of 4334 head, La Junta, Colo. was $3 lower on steer calves, steady on heifer calves and yearling steers, and steady to $1 lower on yearling heifers.

In Texas, Crockett was $3-5 lower on 3197 head. Three Rivers offered 1600 head and termed steers $3-4 lower, heifers steady to $4 lower. Amarillo was $3-5 lower on 2142 head.

Oklahoma City was steady to $2 lower on steer calves and feeder weight steers and heifers, $2-5 lower on heifer calves and bull calves. Receipts totaled 7935 head. Best 350-400 pound steer calves brought $111-125; 400-450 pounds $105-116; 450-500 pounds $97-106.50; 500-550 pounds $91-102; 550-600 pounds $86-96; 600-650 pounds $84.25-94; 700-750 pounds $81.50-87.50; yearlings, 650-700 pounds $90-93.75; 700-750 pounds $89.25-92.25; 750-800 pounds $87.75-89.50; 800-850 pounds $85-85.50; and 850-900 pounds $79-83.25.