Plains Fed Cattle $1 Lower;
Losses Grind Feeders Down

Like a player in some boot-wearing version of a Greek tragedy, the cattle business seems to be trudging slowly but inexorably toward disaster, unable to affect its own destiny. Both fat and feeder cattle moved another step closer to the cliff this week.

Despite working off of the smallest showlist of the year at 85,783 head, Texas Panhandle feedyards were forced to give up another dollar this week, moving about 76,000 head by late Wednesday at mostly $62. Captives made up more than a third of the number, about 27,000 head.

With breakevens calculated at $67-68, cattle are said to be losing anywhere from $60 to $90 per head. Attitudes are even worse now than when losses were greater, simply because the red ink has been flowing so long.

Kansas movement by presstime was about 52,000 head at mostly $62 live and $98 dressed; captives accounted for more than 60 percent. Nebraska counted 70,000 for the period at $62 live and $97-98 dressed.

Midwest direct trade was steady to $1 lower at $61-62.25 live and $96.50-98 dressed. Sioux Falls provided the primary terminal test by midweek and reflected a steady to 50 cent higher trend at $61-62.80.

Inactivity prevailed through Wednesday in the Southwest, where not a hoof was reported moving. The Northwest was a staggering $3-4 lower dressed basis at mostly $95 by midweek after earlier $96-98 sales; some late trades came in at $93.50-94.50.

With only 300 head on the yards, St. Joseph’s trends were impossible to call, but the undercurrent on calves was described as "substantially lower," that on yearlings about steady.

San Antonio sold about 1500 head over two days and called most steers and heifers $3-4 lower except for a steady to $2 higher trend on heifers over 500 pounds. Amarillo offered 1500 head and encountered a steady to $1 lower market on both steers and heifers.

Just over 11,000 head in Oklahoma City faced a mixed trade in which feeder weight steers closed steady and heifers steady to $1 higher, at least partly on the strength of an improving futures market for fats. Burned up pastures, on the other hand, drove steer calves another $2-4 lower and heifer calves steady to $3 lower. Best 400-450 pound steer calves brought $79-83; 450-500 pounds $76-83.50; 500-550 pounds $75-80.75; 550-600 pounds $72.75-79; 600-700 pounds $71.75-76.75; 700-750 pounds $71.75-77; 750-800 pounds $70.75-74.75; 800-850 pounds $68.75-72.25; 850-900 pounds $67.25-71.50; 900-950 pounds $66-68.50; and 950-1000 pounds $62.75-65.50.