Fed Cattle Trading On Plains
Stalled Once More At Midweek

Confidence prevailed among cattle feeders again this week, prompting them to spurn lower $63 bids early and then turn down most steady $64 bids later.

By midweek they were holding for $65-66, apparently eyeing two straight days of better futures prices and the fact that two of the major packers remained out of the market last week and by rights should need cattle — eventually.

Texas Panhandle movement came to 31,425 head through Wednesday, but more than 24,000 of those were captives; the balance sold Friday and Tuesday at $64. The week’s showlist stood at 98,355 head, but that included a 60 percent carryover from last week.

Kansas counted about 28,000 head moving through Wednesday, but as in Texas, more than 24,000 of those were formula and contract deals; a few live trades were reported at $64 and a few dressed sales at $103. Nebraska’s count came to 54,500 head, live sales mostly at $64 and dressed terms $103 with a few out at $102.

Midwest direct prices were $64-65 live and $102 to mostly $103 dressed, terminals in a wide range of $62.50-65.80.

The Southwest was at a near standstill, though Arizona reported a few pens of Holstein steers at $59.96. Moderate trade on light offerings in the Northwest saw prices $1 higher at $100-101 dressed, a few down to $98-99.

Feeder and stocker cattle prices were mixed across the country, some areas hinting at an end to recent declines, but others not confirming it.

St. Joseph, Mo. called most classes steady to $1 higher on limited offerings of 600 head. La Junta, Colo. provided only a light test of most classes with receipts of fewer than 1000 head; a steady trend prevailed where one could be discerned.

San Antonio sold about 1400 head over two days and termed prices unevenly steady to instances $2 higher. With 2536 head on hand, Amarillo reported a $1-3 higher trend on steers over 600 pounds and heifers over 500 pounds; lighter weights were poorly tested but carried a weaker undertone.

Feeder weights at Oklahoma City were steady but steer calves tumbled $2-8 and light heifer calves were as much as $4 off. Receipts came to 10,200 head. Best 400-450 pound steer calves brought $84-87; 450-500 pounds $77-87.25; 500-600 pounds $77-85; 600-700 pounds $73.50-78; 700-750 pounds $71-77; 750-800 pounds $70-75; 800-850 pounds $69-74.75; 850-900 pounds $68-71.50; and 900-1000 pounds $66-69.