Fed Cattle Prices Steady,
Post-Holiday Trade Early

Plains fed cattle prices held steady this week after two weeks of declines that sliced four dollars off the market.

Both sides were eager to trade early, and most of the business was concluded by Tuesday. Packer enthusiasm was driven by a need for numbers in a still-current market, and feedlots were doubtless looking ahead to the not so distant future when numbers are expected to begin rising.

The hammer of captive supply also looms large over the picture again, though perhaps more mentally than physically. Figures compiled by USDA indicated as early as the end of last week that packers had more than 200,000 head sewn up for this month in contracts and formula deals, plus more than 190,000 already for January. Closer in, captives made up almost four out of every 10 head that moved this week in Kansas.

The Texas Cattle Feeders Association, however, says the December and January numbers are "just about normal" for the period, and perhaps even a little light. What makes them seem large, TCFA explains, is that up until recently they had never been compiled. As for the anticipated increase in supplies, feedlots have been pulling cattle so green for so long now, analysts say, that those numbers still aren’t even a blip on the radar.

The Texas Panhandle and Western Oklahoma region sold 66,500 head through Wednesday afternoon, the bulk of them at $68. That was on a 61,200-head showlist.

Kansas sold 71,600 for the week at mostly $68, and 26,500 of those were captives. Nebraska moved 67,500 at anywhere from $68 to $70 live, a few better than average pens to $71 on steers and $72 on heifers; dressed rates ranged from $112-113 in the western end of the region to $115-116 in the east, the higher rates mostly on Tuesday.

Midwest direct areas ranged from $68 to $71.50 live and $112-116 dressed. Terminal markets were $69-72.50 on better kinds.

The Southwest was slow to moderate at $65.50 to mostly $67 on beef breeds and $103 dressed on Holsteins. Slow trade in the Northwest was reported steady to weak at generally $108.

Feeder cattle trade was up and down, but the bulls appeared to have the upper hand, at least in early rounds.

St. Joseph called 4500 head steady to $2 lower. In Texas, however, San Antonio was $2-3 higher on heifers and $3-4 higher on most steers, receipts about 1400 head. Sulphur Springs was steady to $1 higher on 1700 and Crockett steady to $3.50 higher, instances $5 higher, on receipts of about 2000 head.

Amarillo’s run was trimmed to fewer than 1000 head by a holiday snowstorm and couldn’t support a trend, but Abilene offered 2000 head and called both steers and heifers steady to $3 higher.

Oklahoma City’s numbers came to 5550 head, the trends there $2-4 higher on steer calves and steady to $3 higher on heifer calves, feeder weights steady to $1 higher. Best 350-400 pound steer calves made $68.50-75; 400-500 pounds $66-74; 500-550 pounds $64-74.75; 550-600 pounds $65-70.25; 600-700 pounds $62.50-68; 700-750 pounds $61.25-68.25; 650-700 pound yearlings were $66.75-67.25; 700-800 pounds $65.50-69; 800-850 pounds $66-68.50; and 850-900 pounds $64.50-65.50.