AMARILLO —(USDA)— Slaughter steers and heifers were mostly $1 lower in Texas Panhandle and Western Oklahoma feedlot trading during last week’s holiday-shortened period.

Trade and movement of fed cattle were at a near standstill until midweek, when selling turned active. Most showlists were fully or partially depleted by week's end.

The average liveweight of cattle continues to run around 30-40 pounds heavier than a year ago, and last week's 1183 pound average is the heaviest in two years. Hot, dry weather continues to hammer Texas and feedlot cattle are under stress.

Sales were confirmed on 90,000 head, including 23,900 formulated, 4000 contracted cattle and 300 head or 10 loads of CME cattle.

The weighted average price of all beef type steers was $62.03. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1183 pounds compared to 1175 a week earlier and 1151 pounds a year ago. Heifer percentages were 41, 44 and 45, respectively.

Midwest direct and terminal trade was steady to $2 lower live and fully $2 lower on a dressed basis. Western parts of the nation were $1-4 lower dressed.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcasses was down $2.59 at $97.51, 700-850 pounds down $2.57 at $95.87. CME futures hit new contract lows on all options Wednesday, July 1. Demand and supply presented a bearish undertone for the pre-holiday week.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $62, pen in North Plains $63, weighted average price $62.05; select and few choice 2-3 1100-1250 lbs. $61-61.50, weighted average $61.04.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $62, pen in North Plains $63, weighted average $62.04; select and few choice 2-3 1050-1150 lbs. $61.50.