Texas Fed Cattle Move Lower
Again; Most Feedlots Current

AMARILLO —(USDA)— Slaughter steers and heifers were mostly $1 lower in a bearish live trade last week in Texas Panhandle and Western Oklahoma feedlot trading.

Buyers came into the week bidding lower and were able to buy some cattle daily. However, the bulk of cattle traded at midweek with later trading slow. Price declines occurred in the live cattle trade even though some strength was noted in boxed beef cutout values.

Most feedlots traded and moved showlists with only minimal carryover. The average liveweights continue to run 20-30 pounds heavier than a year ago. Sales were confirmed on 113,200 head, including 39,900 formulated cattle. The weighted average price of all beef type steers was $60.07.

The average liveweight of most cattle slaughtered at area packing plants the previous week was 1184 pounds compared to 1186 a week earlier and 1161 the corresponding week a year ago. Heifer percentages were 44, 41 and 34, respectively.

Slaughter steer and heifer prices were 50 cents to $2 lower at Midwest terminal markets, mostly $1 lower. Western parts of the nation were again $1 lower on a dressed basis.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcasses was up $2.47 to $100.43, 700-850 pounds up $2.59 at $99.28. Week to date trade volumes were the best they have been in recent weeks, with commercial feedlots reporting good clearance of showlists, even though most of the cattle were previously contracted. Packers purchased inventory as if slaughter production was at full capacity, but many operated under reduced hours for the week.

At midweek, boxed beef sales and CME live cattle futures rebounded, offering optimism to cattle producers. Both sides will closely analyze Friday's release of the cattle on feed and cattle inventory reports.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $59.50 to mostly $60, a few on the North Plains $60.50-61, late $60, weighted average price $60.09; select and few choice 2-3 1100-1350 lbs. $58-59.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $59-61 mostly $60, late $60, weighted average $60.08; select and few choice 2-3 1050-1150 lbs. $59-60, weighted average price $59.51.