Plains Fed Cattle Off Again;
Stalled After Futures Break

Plains fed cattle prices took another dip this week, slipping under the $60 threshhold again.

After holding firm at $60 last week, feedlots opened this week trading at $59-59.50 and sold some cattle each of the first three days despite efforts by some to hold for as much as $63. When the futures broke again Wednesday, packers seized the opportunity to roll bids back to $58, and movement ceased.

By that point Texas had sold some 75,000 head out of an 88,000 head showlist, nearly 37,000 of those captives.

Kansas counted 62,800 head, though captives accounted for 33,700 of them, or better than half; the going rate of live trades was $59, as in Texas. Nebraska sold 40,000 head at mostly $59 live, a few to as much as $60, and $94 dressed though some late sales slipped to $93.

Midwest direct trade ranged $59-59.25 live, a few to $60, and mostly $94 dressed with a few to $95. Terminals paid $57-60.

The Southwest was slow to moderate, a few pens of mostly Select steers bringing $58 on beef breeds and $54 on Holsteins, some beef types $59.47 to Mexico. The Northwest was $2 lower in moderate trade at $91-93 dressed, $96-97 for Choice offerings on a grade basis.

Stocker and feeder cattle faced mixed prospects this week, though a stronger trend prevailed in most areas.

St. Joseph, Mo. reported a "near steady" undertone on scant receipts, and a collection of Florida auctions selling 6262 head between them found a steady to $3 higher market.

In Texas, Crockett was steady to $1 higher on 1400 head. San Antonio offered 725 head Monday and called feeder steers steady to $3 higher, heifers steady to $4 higher. Amarillo was generally steady across the board on 1700 head.

With 11,534 head on offer, Oklahoma City called feeder weight steers and heifers steady to $1 lower, steer calves steady and heifer calves steady to $1 higher. Best 300-350 pound steer calves brought $84.50-92; 350-400 pounds $82-87.50; 400-500 pounds $75-84; 500-550 pounds $71-77; 550-600 pounds $70-76; 600-650 pounds $70-76.25; 650-700 pounds $68-72.25; 700-750 pounds $66-71; 750-800 pounds $66-69.50; 800-850 pounds $65.50-69.25; 850-900 pounds $64.25-67.50; and 900-1000 pounds $62.25-65.