Nation’s Fed Cattle Trade Turns
Sour; Feedlots Show Big Losses

OKLAHOMA CITY — The slaughter cattle market took another hit last week as trading turned $2 lower.

Packer demand was good and they seem to have the upper hand in trading. Slaughter rates continue to lag, but with better packer margins, kill numbers were beginning to get larger by week’s end. CME cattle futures followed along the heels of the stock markets with more down days than ups as traders showed grave concerns about the economy.

Feeders had little help in holding onto steady money and sold many cattle with big losses.

Boxed beef cutout values continued to decline, closing Thursday at an average of $110.27, down 2.95 from the previous Friday.

Sales on a national basis for negotiated cash trades totaled only 166,900 head through Thursday. The previous week's total was 190,800 head.

Midwest direct markets had steers and heifers grading 35-80 percent Choice, 900-1400 pounds $66.00-67, average $66; dressed 550-950 pounds $104-106, average $105.75.

High Plains direct sales of steers and heifers 35-65 percent Choice, 900-1400 pounds $65-67, average $66.

On Tuesday slaughter cows were steady to $2 lower and bulls weak to $3 lower. Cutter cow carcass cutout value closed Thursday at $90.91, down $1.70 from the previous Friday. Breakers moved for $41-45, boners $39.50-45, lean $36-41, bulls $51.50-56.