Plains Fed Cattle Movement
Still Nonexistent At Midweek

Plains feedlots and packers maintained another standoff through midweek, the latter bidding $2 less than last week's market and the former seeking a $1-2 increase. Bids ran $61 and asking prices $64-65.

Last week's trade developed late at mostly $63, which was $1 off the previous week's going rate. Feeders gnashed their teeth at the realization that packers were rolling back live prices despite raking in record profits calculated at $70 or more per head.

In addition, showlists were short, which provided the kind of fundamentals that once drove a market upward or at least allowed it to hold steady. It appears the tried and true fundamentals no longer work in the type of captive market that exists today. With all the current agitation for some type of market reform, packing interests may someday wish they had held a little tighter rein on their baser instincts. Talking sanctimoniously of a free market while proving it to be anything but can only be carried so far.

The Texas Cattle Feeders Association counted 67,625 head on showlists in their area, down another 5228 head. Captive numbers stood at 41,475 head.

Elsewhere, USDA reported direct trade at $63-63.50 live and $100-101.50 dressed. Midwest terminals paid $61-63.90 on the bulk of offerings.

Stocker and feeder cattle prices were mixed across the country.

A roundup of four Florida auctions counting 3992 head between them reported mostly steady trends, as did La Junta, Colo. on receipts of 4698 head.

In Texas, Three Rivers was steady on 1610 head. Crockett sold 1484 head and found steers $2-3 higher, heifers $1-2 higher. Amarillo and Hallettsville, however, were $1-2 lower on 2173 and 2214 head, respectively.

Oklahoma City termed feeder steers steady to $1 higher and feeder heifers steady but stockers and calves $1-3 lower. Receipts came to 14,385 head. Best 500-550 pound steer calves brought $85-92; 550-600 pounds $81-88.75; 600-650 pounds $78.50-84.50; 650-700 pounds $74.50-79.50; yearlings, 600-650 pounds $81-86; 650-700 pounds $80.50-81.25; 700-750 pounds $77.25-81.75; 750-800 pounds $74-78.50; 800-850 pounds $71.50-76.50; 850-900 pounds $69.25-73.75; 900-950 pounds $67.75-70.50; 950-1000 pounds $64-68.50; and 1000-1050 pounds $63.50-67.75.