Texas Fed Cattle Reach $60,
Weights Still Above Year Ago

AMARILLO —(USDA)— Slaughter steers and heifers closed $1 higher in Texas Panhandle and Western Oklahoma feedlot trading last week after being as much as $1 lower early in the period. Daily movement was noted with the bulk being traded on Tuesday and Thursday.

The price upturn was prompted mainly by limit-up CME futures trading on two consecutive days. Near 35 loads of cattle came into the area for slaughter from Arizona.

Average liveweights continue to run 30-40 pounds heavier than a year ago. Sales were confirmed on 110,100 head, including 44,900 formulated cattle. The weighted average price of all beef type steers was $58.99. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1192 pounds compared with 1190 a week earlier and 1149 the corresponding week a year ago. Heifer percentages were 43, 40 and 43, respectively.

Midwest direct trade areas were steady to $1 higher and terminals steady to $1.50 lower early in the week. The Northwest was steady to weak on a dressed basis.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcasses was up $1.08 at $102.80, 700-850 pounds up 29 cents at $100.78.

By late week, following limit-up movements from the futures complex, strong demand from the retail sector evidenced by boxed beef sales volume, and profitable margin levels, packers moved bids to higher levels.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $57-60, closing at $60, weighted average price $59.01; select and few choice 2-3 1150-1250 lbs. $56.50-59.50, weighted average $58.21; small pen select and choice 1-3 1200 lb. Holsteins $53, 1250 lb. Holsteins on carcass basis $89.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $57-60, late $60, weighted average $58.85; select and few choice 2-3 1050-1150 lbs. $58-59, weighted average $58.88; pen select and choice 2-4 1200 lbs. including heiferettes $56.