Plains Fed Cattle Move Early,
But Only On $1 Lower Market

Plains fed cattle traded early this week for a change, a significant number moving on Tuesday. As has generally been the rule, however, it cost the feeders something to do that; packers peeled another dollar off the declining market.

By late Wednesday afternoon, Texas Panhandle area feedlots had sold more than 80,000 head at mostly $63, down from the $64 going rate last week. Captives account for roughly 32,000 head.

A silver lining or two may be buried in there, however, in that movement was sufficient to sweep away most of the 89,558 head showlist, and later trades held to the $63 level despite packer efforts to strip away yet another dollar.

Kansas sold 62,500 head through midweek at mostly $63, but about 45 percent of those were captives. Nebraska’s count came to nearly 80,000, the going price by Wednesday $62 live and $99 dressed.

Midwest direct trade was $62-63 live by Wednesday, dressed terms $98-100. Terminal markets quoted prices anywhere from $59.50 to $62.25.

The Northwest was $1 lower in moderate trading at $98-99 dressed. No report was available from the Southwest.

Stocker and feeder prices continue to slide, the skids greased by red ink dripping from fed cattle.

St. Joseph, Mo. attracted too few cattle to establish a clear trend but called the undertone weaker. La Junta, Colo. is on seasonal hiatus.

San Antonio offered about 1600 head in two days of trading and quoted a virtual price rout; Monday was $6-8 lower on most weights and classes, though steers over 600 pounds held to mostly a $2 loss, but those kinds tumbled another $3-4 Wednesday and heifers lost an additional $2.

Amarillo sold 1600 head in a highly mixed trade that found steers over 600 pounds steady and lighter weights untested, heifers over 500 pounds $1-2 higher but lighter weights $1 lower.

Receipts of 9650 head at Oklahoma City encountered a $1-2 lower market on feeder weight steers and heifers and steady prices for calves. Best 400-500 pound steer calves earned $81.50-88; 500-550 pounds $79-84.25; 550-600 pounds $78.75-82.50; 600-700 pounds $77-80; 700-750 pounds $72-77.75; 750-800 pounds $70-75; 800-850 pounds $69-73; 850-900 pounds $67.50-70.75; 900-950 pounds $65-69.25; 950-1000 pounds $64.50-67.25.