Plains Fed Cattle Movement
Liberal At Steady $60 Rate

Last week’s big jump in prices on the basis of a bullish futures trade inspired confidence among cattle feeders going into battle this week; disdaining the $60 prices they’d so handily gained last Thursday and Friday, they were asking anywhere from $62 to as much as $64 on Monday.

Those prices didn’t get many cattle sold through Tuesday, however, and when the same futures board that had bouyed prices last week began to slip, so did feeders’ confidence. By Wednesday, $60 was looking acceptable after all.

The Texas Cattle Feeders Association tallied 104,327 head selling at that rate in their trade area through late Wednesday afternoon, considerably above the original showlist of 87,000 and change. It included about 36,000 captives, well off of last week’s 45,000 figure.

Kansas counted 52,000 head through midweek at $60-60.25, and Nebraska sold 77,000 at mostly $60 live and $95-96 dressed.

Midwest direct areas saw a $60 live trade with carcass deals mostly $95-96 and a few to $97. Terminals were lightly tested by Wednesday.

Trade was slow in the Southwest, a few mostly Select steers selling into Mexico from Arizona at $57 and some Holsteins at $55.49; in Nevada a handful of steers brought $85 hot weight. The Northwest was $2 higher in active trading at $93-95 as captive supplies dried up.

Stocker and feeder cattle prices showed a healthier complexion this week in most areas, bouyed on one end by last week’s strength on fed cattle and on the other, presumably, by scattered rains over a lot of drouthy country.

St. Joseph continued to report only a minimal run, but at $2-4 higher prices on most categories; weights over 700 pounds were steady to $2 lower. A collection of Florida auctions running 4988 head between them found prices $1-3 higher.

In Texas, Crockett offered about 2000 head and called steers and heifers steady to $2 higher, San Antonio was $3-5 higher on short numbers Monday, and Amarillo sold $2-4 higher on 2000 head.

Oklahoma City reported good demand on all classes with an offering of 8750 head; feeder weight steers and heifers were $2-4 higher, steer calves $2-5 higher, and heifer calves $1-3 higher. Best 400-450 pound steer calves were $78.50-87; 450-500 pounds $74-80.50; 500-600 pounds $71-79.75; 600-650 pounds $68.75-74.75; 650-700 pounds $66.75-72.50; 700-800 pounds $67.75-71.50; 800-850 pounds $66-69; 850-900 pounds $65.75-68; 900-950 pounds $61.25-66.75; 950-1000 pounds $59.75-64; and 1000-1050 pounds $58-60.