Plains Fed Cattle Movement
Liberal On $1 Lower Market

Under pressure from a soft futures board, Plains feedlots this week gave up the dollar they had gained in last week’s small victory. By doing so, they moved a lot of cattle and inched closer to the day when numbers can no longer hammer the market.

With last week’s $65 trade fresh in their memories, feeders held out against $64 bids for two days, but a break in the board on Wednesday morning spooked enough of them to start the trade.

By late afternoon, the Panhandle area had moved more than 100,000 head for the week on a 91,000 head showlist, though about 30,000 of those were captives.

Kansas counted 50,600 head for the period at mostly $64 live and $101.50 dressed; captives accounted for better than half of them. Nebraska’s trade came to 65,000, live prices mostly $64 and dressed deals $101-102.

Midwest direct trade ranged from $63 to $64.25 live and $101-103 dressed, terminals $62-64.

The Southwest reported no movement through midweek, a near repeat of last week’s performance, only less of the same. Slow trade under light demand characterized the Northwest, where dressed prices reflected a weaker undertone at $97.

The stocker and feeder market reflected the uncertainties of a fed cattle trade that should be improving but can’t quite get its legs under it.

St Joseph, Mo. offered fewer than 1000 head of mostly lower quality feeders in a steady to $2 lower trend, some steers $3-5 lower. No report was available for La Junta, Colo., which offered only a light test last week as well.

About 3000 head turned out for the season’s second special feeder sale at San Angelo Monday and found a generally steady market. Details are elsewhere in this issue.

San Antonio was unevenly steady to instances $2 higher on roughly 1400 pounds over two days. Amarillo receipts came to 1100 head and change, the trend steady to $2 lower with the decline on weights over 600 pounds.

Oklahoma City sold 10,250 head and called feeder cattle and calves firm to $2 higher. Best 400-450 pound steer calves earned $88.50-91; 450-500 pounds $80.50-87.50; 500-550 pounds $80-84.25; 550-600 pounds $77.50-83.75; 600-650 pounds $77-81.75; 650-700 pounds $74.50-78; 700-750 pounds $73-78.25; 750-800 pounds $72.25-75.75; 800-850 pounds $70-76; 850-900 pounds $68.75-75; 900-950 pounds $68.75-72; 950-1000 pounds $66.75-69; 1000-1050 pounds $65-66.50; 1050-1100 pounds $62.75-65.