Texas Fed Cattle Trade Lower
Last Week In Thursday Selling

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

Trade was at a near standstill until late Thursday, when feedlots reluctantly decided to sell at lower price levels.

Buyers came into the week with lower bids as a bearish atmosphere continued in the fed cattle trade. Most showlists were depleted, though some feeders were satisfied to carry cattle over before doing business on the low bids.

Average liveweights of cattle sold in the Panhandle area continue to run around 30-40 pounds heavier than a year ago.

Sales were confirmed on 91,800 head, including 35,600 formulated, 200 contracted and 950 head or 27 loads of CME cattle.

The weighted average price of all beef type steers was $60.98. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1186 pounds compared to 1183 a week earlier and 1153 the same week a year ago. Heifer percentages were 41, 41 and 42, respectively.

Cattle prices continued to fall for the fourth consecutive week. Midwest direct areas and terminal markets were steady to $2 lower, closing $2 lower for the week. Western parts of the nation reported dressed prices $1 lower.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcasses was down 46 cents at $97.03, 700-850 pounds up five cents at $96.19. CME futures made more new lows, and packers cut slaughter by six percent in the face of relatively poor beef demand.

Feedlots were unable to stay current, and cattle weights continued to rise, reaching record levels in most feedlots. Live cattle weights were up 35 pounds from a year ago and five pounds heavier than the previous week.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $61; pen mostly choice 2-3 1200 lbs. $61.25; select and few choice 2-3 1100-1250 lbs. $59-60.50, weighted average price $59.44.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $61.