Texas Direct Fed Cattle Lower,
Trading Slow Except At Midweek

AMARILLO —(USDA)— Slaughter steers and heifers were 50 cents to $1 lower last week in Texas Panhandle and Western Oklahoma feedlot trading.

Trade and movement of fed cattle was slow and sluggish early in the week, but finally developed at midweek when the bulk of the week’s movement took place.

Live cattle prices moved lower in the face of declines in CME futures, and despite strength in wholesale boxed beef cutout values.

Average liveweights continue to run around 30-40 pounds heavier than a year ago, and more than ample supplies of market ready cattle are available each week. Confirmed sales totaled 107,300 head, including 26,800 formulated, 1600 contracted cattle and 104 loads or 3200 CME cattle.

The weighted average price of all beef type steers was $64.02. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1166 pounds compared with 1170 a week earlier and 1131 the corresponding week a year ago. Heifer percentages were 44, 40 and 40, respectively.

Midwest direct and terminal sales were steady to $2 lower, some dressed trade as much as $3 lower.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 lb. carcasses was up $1.29 at $102.10, 700-850 lbs. up $1.13 at $101.14. Even though boxed beef closed the week at higher levels it was not enough to support the live trade activity. Some commercial feedlot areas exceeded estimated showlists in anticipation of a bearish cattle on feed report.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $63-65, late not well tested, weighted average price $64.02; select and few choice 2-3 1150-1200 lbs. $64, weighted average $64; carcass basis, select and choice 2-3 1100-1250 lbs. $102.50. Slaughter heifers: select and choice 2-3 1000-1150 lbs. $63-65, late not well tested, weighted average $64.02; select and few choice 2-3 1050-1150 lbs. $64.25, weighted average $64.25; carcass basis, select and choice 2-3 1100-1150 lbs. $102.50.