Plains Feedlot Trade Stalled
Through Midweek One More Time

If the current fat cattle market trend continues, packer buyers will soon be offering to take entire pens for a sack of magic beans.

That reality may have sunk in on beleaguered cattle feeders this week; as of presstime, Texas Panhandle feedlots were holding out against lower offers and had concluded almost no live trades on a showlist of roughly 94,000 head.

Packer bids were another dollar lower at $61, asking prices a dollar higher at $63. The general feeling was that trade would develop at a steady $62, but no one seemed to know when. Movement was tallied at 37,000 head, essentially all captive cattle.

Kansas was in the same boat, counting a 24,200 head volume made up of 24,100 captives and a handful of mystery beeves. Nebraska’s movement came to 36,000 head, live sales at $60-61 and dressed deals $96-97, later trades at the lower figure.

Midwest direct trade was steady to $1 lower at $60-61 live and $96-97 dressed. Terminals reported prices ranging from $58.50 to $60.85 on better kinds.

The Southwest was deathly quiet through midweek, the Northwest steady to $1 lower in moderate trade at $94-96 dressed.

Stocker and feeder cattle price trends were hard to call; despite coming off a holiday period in which most trading outlets were closed, offerings through midweek remained too light in many areas to establish a clear market.

That was the case in St. Joseph, Mo., where receipts totaled only 300 head. Ditto for San Antonio, with just over 500 head in two days of selling; the trend there neverthless was somehow divined to be steady to $2 higher.

La Junta, Colo. remained on summer hiatus.

Amarillo offered 1400 head and change, and called weights under 600 pounds steady, heavier kinds $1-2 higher.

With 7400 head on the yards, Oklahoma City quoted a steady market. Best 450-500 pound steer calves earned $77.50-84.50; 500-600 pounds $75-81; 600-700 pounds $72.25-76.75, one lot of 685 pound calves $68.25; 750-800 pounds $71.25-73.75; 800-850 pounds $69.50-72.75; 850-900 pounds $69.50-71.25; 900-950 pounds $66.75-67; and 950-1000 pounds $64-66.50.