Texas Fed Cattle Continue
To Move In Downward Spiral

AMARILLO —(USDA)— Slaughter steers and heifers sold steady to $1 lower in Texas Panhandle and Western Oklahoma feedlot trading. Movement of fed cattle was noted each day with the bulk traded on Thursday.

Most buyers were not overly aggressive for numbers and held most bids lower.

Average liveweights of cattle sold continue to run 20-30 pounds heavier than a year ago. Sales were confirmed on 103,600 head, including 37,900 formulated cattle. The weighted average price of all beef type steers was $58.96.

The average liveweight of most cattle slaughtered at area packing plants the previous week was 1190 pounds compared with 1185 a week earlier and 1159 a year ago. Heifer percentages were 40, 42 and 43, respectively.

Midwest direct trade areas were steady to $1 lower with Illinois steady to $1 higher. Midwest terminals were steady to $2 lower.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcasses was up .04 cents at $101.88, 700-850 pounds up 13 cents at $100.40.

Faced with declining CME futures, a virtually unchanged meat trade, and buyers who had no technical reason to push other than profitable margins, commercial feedlots moved cattle at lower levels.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1325 lbs. $59, pen on the South Plains $59.50; select and few choice 2-3 1100-1350 lbs. $57-58.50, weighted average price 57.96; pen select and choice 1-3 1350 lb. Holsteins $53; 2-3 1100-1200 lbs. on a carcass basis, choice $97-99, select $88; few loads select and choice 3-4 estimated to produce 950 lb. carcasses $92.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $59, pen on the North Plains $60; select and few choice 2-3 1050-1150 lbs. $58.50; 2-3 1000-1100 lbs. on carcass basis, choice $97-99, select $88; few choice 2-4 1000-1150 lbs. $91.