Fed Cattle Decline $1 Again
Wednesday After Holding Off

Plains feedlots held out against relentlessly lower bids as long as they could, but the breaking point came early Wednesday afternoon.

Last week’s curtailed trade left a large number of finished cattle looking for an owner; once again, the Panhandle area showlist stood at more than 110,000 head, and that gave packers considerable leverage.

They used it beginning Tuesday afternoon to break bids back $1 to $63 after buying several thousand head at $64. Sellers finally caved in a day later, moving about 40,000 head Wednesday to bring the week-to-date total to 71,000. Captives accounted for 22,000 of those.

Kansas feedlots were slower to come around; USDA counted only about 1000 head at the $63 figure by midafternoon Wednesday for a weekly total of 19,800 head, the vast bulk of those captives. Nebraska had moved 18,000 by that point, mostly dressed deals at $102-103 and a few live trades at $64.

Midwest direct trade on better kinds was $64-65 live and $102-104 dressed, terminals anywhere from $62.50 to $65.10.

No sales were reported in the Southwest through midweek. Active trading in the Northwest found a weak undertone on dressed prices of $100-101 early and a few down to $99 late.

Stocker and feeder cattle prices continued to lose ground in most areas where weather or competing crop-related activities didn’t curtail movement.

St. Joseph offered fewer than 1000 head in a delayed start that produced no figures by presstime. La Junta, Colo. reported 1547 head on offer, the quality lacking some and weights under 700 pounds poorly represented; heavier steers were steady but equivalent heifers were steady to $1 lower.

San Antonio’s receipts came to fewer than 1000 head, the trend termed steady as best it could be determined from such a thin test. Amarillo offered just over 3000 head and called steers and heifers under 700 pounds $1-2 lower, heavier weights steady to $1 lower.

With receipts of 7175 head, Oklahoma City was $2-4 lower on stocker weight steers and heifers, steady on feeder steers and steady to $1 lower on feeder heifers. Plain to average quality there may have played a role. Best 400-500 pound steer calves brought $98-106; 500-600 pounds $85-90.50, one lot of 500 pounders $96.25; 600-650 pounds $80-87.25; 650-700 pounds $76.75-80.75; 700-750 pounds $73-78.50; 750-800 pounds $71.25-75.75; 800-850 pounds $70-75; 850-900 pounds $68.50-73.50; and 900-950 pounds $67-70.75.