Plains Fed Cattle Down $1
At $68 In Wednesday Trade

Plains cattle feeders weren’t happy with themselves or one another this week after giving up another dollar, but it was one of those cases where one lemming leaps and the others don’t want to be alone on the cliff.

Trade started out much like last week, with packers bidding $66-67 and feedlots holding for $70-71. The standoff prevailed until Wednesday, when bids inched up to $68 and one holdout after another took the bait.

The Texas Cattle Feeders Association counted 47,738 head selling in their trade area for the day and expected to pick up a few more as reports dribbled in. That brought the week’s tally to 62,800 head, including about 13,000 captives and a few $68 sales on Friday. The showlist remained short at 68,376 head.

Kansas sold 42,800 head through midweek at mostly $68, Nebraska 39,300 head at $67-68 live and $107-108 dressed; once again, Nebraska remained slightly behind Texas and Kansas in the price department.

Midwest direct areas reported $67-68 live sales and $107-108 dressed, terminals $64.50-66.50 with a load at $67.

The Southwest was slow to moderate at $66 on beef-type steers and $63-63.50 on Holsteins. Slow trade in the Northwest saw prices 50 cents lower at mostly $107 dressed.

The feeder cattle picture was a shade brighter this week in most areas.

St. Joseph, Mo. called steers and heifers steady to $1 higher on 2700 head. Springfield, Mo. was steady on 4000 head.

La Junta, Colo. offered 10,287 head and termed steer calves $2 higher, heifer calves steady to $1 higher, yearling steers $1-2 higher and yearling heifers steady.

With 1690 head on hand, San Antonio reported a steady to $3 higher market on steers but a steady to weak trend on heifers, with four-weights $3-5 lower. Amarillo’s receipts came to 4150 head, the trend $1-3 lower on steers and heifers under 600 pounds, steady on heavier weights.

Oklahoma City sold 12,875 head on a mixed market; feeder steers trended $3-4 higher and feeder heifers $1-2 higher, heifer calves firm to $2 higher but steer calves steady to $2 lower. Best 300-400 pound steer calves brought $94-103.50; 400-450 pounds $94-102.50; 450-500 pounds $87-96.50; 500-600 pounds $82-89.50; 600-650 pounds $77.75-85; 650-700 pounds $74.25-80.50; 600-650 pound yearlings were $82.25-85; 650-700 pounds $77.25-85; 700-800 pounds $76-80.75; 800-850 pounds $76-80.25; 850-900 pounds $71-76; 900-1000 pounds $69-71; and 1000-1050 pounds $64-69.50.