Fed Cattle Bring Steady Money
As Tight Supplies Sell Freely

Texas feedlots sold their limited showlists for steady $72 money this week, apparently willing to lock in a substantial profit instead of squeezing for a more substantial one.

The Texas Cattle Feeders Association tallied 63,000 head moving in their trade area through late Wednesday afternoon, about 3000 head more than feedlots had offered on their official lists.

Most observers agreed that buyers were selective for quality even in the face of short numbers, and a roughly $20 spread between select and choice beef explains why. Less certain, and frustrating to some, is why feeders haven’t pushed for higher prices in light of short numbers, better meat prices and a rising paper trade. The only logical explanation is that per-head margins of $100-150 have tempted most of them simply to take the money and run.

Kansas sold 75,000 head through Wednesday afternoon, about 17 percent of them captives; live trades, as in Texas, were mostly at $72. Nebraska moved 56,000 fats, live trades in a $72-74 range, many at $73, and dressed terms $118-119 early, to $120 by Wednesday.

Midwest direct trade by Wednesday ranged from $72 to $75 live, dressed prices $118.50-120. Terminals paid anywhere from $70.50 to $74.

Slow to moderate movement in the Southwest saw prices ranging from $65 on Holsteins to $66-69 on mostly select steers and heifers. The Northwest was $2 higher in slow trading at $113-115 dressed.

Feeder cattle prices were mixed across the country this week, following a couple of weeks of stronger trends.

Springfield, Mo. offered 5500 head Wednesday and called all classes steady in early trade under moderate demand. Just half a state away, St. Joseph reported $2 higher prices on steers.

San Antonio was steady to firm on most of a 2300 head offering, 600-700 pound steers an exception at steady to $2 higher rates. Amarillo receipts totaled 2015 head Tuesday, and the trend was steady to weak on weights under 600 pounds, heavier steers steady to $1 lower and similar heifers mostly steady. The better end of four to five-weight steers made $67.50-72.50, fives to sixes $58-66, sixes to sevens $57-64.50, seven to eight-weights $61-64.75, and eights and nines $57.25-61.50.

Oklahoma City traded 16,900 head. Feeder steers there were $2-3 higher, feeder heifers steady to $2 higher, and both steer and heifer calves steady to $2 higher. Best 300-400 pound steer calves brought $72-79; 400-500 pounds $68-74.75; 500-600 pounds $66-72.50; 600-700 pounds $63-67; 700-725 pounds $62.25-65; 550-600 pound yearlings $69.50-70.50; 600-700 pounds $66-70.25; 700-800 pounds $66-70.50; 800-850 pounds $66.50-70.25; 850-900 pounds $65-68.75; and 900-950 pounds $63.25-64.25.