Plains Cattle Feeders Defy
Lower Bids, Force Market Up

A stronger futures board and a smaller showlist gave Plains cattle feeders the ammunition to turn back still lower bids this week. In the end, they put a dollar on last week’s market.

Packers entered the week in the same price-cutting mode that has worked for several weeks running, offering $1 lower bids at $62. That didn’t buy any cattle Monday, so they upped the ante to $63 Tuesday. When that didn’t work, two of the Big Four offered $64 Wednesday.

The higher price bought about 38,000 cattle in the Texas Panhandle, but many feedlots were emboldened to hold for $65, and trade ground to a halt with a week-to-date total of 58,251 head as of late Wednesday. Captives accounted for 18,500 of those.

The Panhandle showlist was 97,000 head, down 14,000 from last week.

Kansas sold 47,000 head through Wednesday at mostly $64 live and a few at $103 dressed; captives made up more than half of the total at 26,700 head. Nebraska’s count came to 50,000 at $63-64 live and $102-103 dressed.

Midwest direct trade was $64-65 live, a few to $65.50, and dressed deals brought $102-103; terminals paid $62-65.60.

The Southwest remained deathly quiet again, the Northwest steady to weak in active trading at mostly $99-100 dressed.

It was another disappointing week for those selling stocker and feeder cattle.

St. Joseph, Mo. offered 800 head in a seasonally short sale and faced prices that ranged from mostly steady to $1-2 lower. A roundup of several Florida auctions that offered 4627 head between them found feeder cattle $2-4 lower.

With 1600 head on hand, La Junta, Colo. reported mostly steady prices but a poor test on yearling feeder steers as well as both steers and heifers weighing less than 600 pounds.

San Antonio receipts came to about 1340 head over two days, the trend steady to $3 lower except for a $2 higher market Wednesday on 600-700 pound steers. Amarillo was $1-2 lower on most classes, though steers under 700 pounds were lightly tested; receipts came to 1750 pounds.

An offering of about 17,000 head at Oklahoma City attracted steady to $2 lower bids on feeder weight steers and heifers, steady rates on stocker heifers and heifer calves, and a $4 decline on similar steers. Best 400-450 pound steer calves brought $96.50-97.50; 450-500 pounds $82-92.50; 500-550 pounds $82.50-87; 550-600 pounds $79.50-82.75; 600-650 pounds $76.25-82; 650-700 pounds $74.75-76.75; 700-800 pounds $69.50-75.75; 800-850 pounds $67.50-74; 850-900 pounds $67.50-72; 900-950 pounds $66-69.25; and 950-1000 pounds $64.25-68.