Fed Cattle Sell For A Change,
But Only After Giving Up $1

Plains feedlots moved cattle at midweek for the first time since early this month, but they had to go a dollar deeper into the red to do it.

Fat cattle have been losing $150-175 a head for weeks now, and the only remedy feeders have for the condition is to sell more cattle at a loss. They couldn’t bring themselves to do much of that last week, but this week they did, giving up a dollar from the $63 that had been the going bid. Whether the sacrifice will be enough to help work the industry out from under current supplies remains to be seen.

With live prices at $62 and a few beef deals at $99-100, Texas Panhandle area trade through Wednesday afternoon came to 83,000 head on a 112,466-head showlist. More than 30,000 of those were captives.

Kansas moved 45,100 cattle at mostly $62 live and $99-100 dressed; captives there came to 18,500 head, or about 41 percent. Nebraska sold 54,000 week-to-date at $61-62 live and $99-100 dressed, late deals mostly at $99.

Midwest direct trade was mostly $1 lower at $61-62 live and $99-101 dressed. Terminals paid $59-62.40.

The Southwest was basically quiet at midweek except for a few pens of steers in the Southern California desert area at $63. Active trade in the Northwest found a $2 lower dressed basis trade at $99-100 after a few early deals at $100.50-101.50.

A generally stronger market prevailed for stocker and feeder cattle in most areas this week.

St. Joseph, Mo. offered 5000 head and reported steers and heifers $2-4 higher except for a steady to $2 lower trend on some seven-weights. La Junta, Colo. found an essentially steady trend across the board on 3137 head.

San Antonio offered 2000 head in two-day trading to a steady to weak reception. Amarillo’s 3500 head were $1-2 higher on steers under 800 pounds and $1-3 higher on heifers under 700, otherwise steady.

Receipts of 10,500 head at Oklahoma City sold steady to $1 higher on feeder weight steers and steady on similar heifers, stocker steers and calves firm to $4 higher and like heifers $4-5 higher. Best 300-400 pound steer calves brought $113-123; 400-500 pounds $99-109, fancy $107.25-115.50; 500-550 pounds $93.50-100.50; 550-600 pounds $89.50-96.75; 600-650 pounds $84-92.50; 650-700 pounds $77.75-82.50, fancy $83.50-86.60; 700-750 pounds $74.25-78.75; 750-800 pounds $72.25-76.50; 800-850 pounds $72.25-75.25; 850-900 pounds $69-73.75; 900-950 pounds $68-72; 950-1000 pounds $66.25-68.