Fed Cattle Trading On Plains
Loses More Ground This Week

Fed cattle prices on the Plains continue to give ground in a wholesale retreat that began in late January. Set up by heavy front-end supplies and slow beef movement, the market slide was apparently sparked by the temporary closing of several Monfort plants and the shuffling of several thousand of their cattle to another packer.

Along with heavy supplies of captive cattle, that slack in the pipeline has given packers leverage to offer pretty much whatever they want to bid.

Trading that started at $63 last week and ended at $61 lost another dollar this week when feedlots proved unable to resist $60 tenders.

The Texas Cattle Feeders Association counted more than 34,000 head selling in their trade area Wednesday at $60, bringing the week’s total to 73,647 head including nearly 35,000 captives. The showlist stood at more than 104,000 head, a clear symptom of the problem.

Kansas sold 35,000 head through early Wednesday afternoon at mostly $60 live and $95-96 dressed; captives there were well below Texas levels at about 15,000 head. Nebraska sales totaled about 44,000 at $58-60.50 live, mostly $59, and $96-97 dressed. Many Nebraska trades include discounts for carcasses weighing more than 950 pounds.

Midwest direct trade ranged $58-60.50 live, a few to $61, and $96-97 dressed. Terminal markets saw prices anywhere from $57 to $60.25.

Slow to moderate trade in the Southwest saw beef breed cattle bringing mostly $60-61, including some sales to Mexico; a few Holstein steers sold at $60.32. The Northwest was 50 cents to $1 lower in slow trade at mostly $96-97.50 dressed.

Feeder cattle and calf trends ran the gamut this week from higher to lower.

St. Joseph called 2500 head steady to $1 higher despite bad weather and the sick fat market. With 2400 head on hand, La Junta, Colo. was steady to $1 lower on feeder weight steers and heifers, steady to $2 lower on steer calves; heifer calves under 600 pounds were steady to $1 higher but heavier weights registered $2 lower.

San Antonio offered something under 1500 head and termed steers steady to $4 lower, four to five-weight heifers $3-4 lower but other weights steady. Amarillo was $1-2 higher on 2100 head of steers and heifers.

Oklahoma City tallied 7750 head on a market that paid steady to $1 higher money for feeder weight steers and heifers and steady rates for stocker heifers, but was only steady to $2 lower on stocker steers. Best 300-400 pound steer calves brought $106-111.50, one group to $117; 400-450 pounds $97-104, some fancy to $111; 450-500 pounds $90.25-96; 500-550 pounds $87.50-92.50, fancy to $96; 550-600 pounds $82.50-89, fancy to $92.75; 600-650 pounds $80-86.50; 650-700 pounds $76.75-80.50; 700-750 pounds $75.25-78.75; 750-800 pounds $73.25-78.25; 800-850 pounds $71.50-76.25; 850-900 pounds $69-77; and 900-1000 pounds $66-69.50.