Texas Fed Cattle Lower Again;
Captives 45 Percent Of Total

AMARILLO —(USDA)— Slaughter steers and heifers sold mostly $1 lower in Texas Panhandle and Western Oklahoma feedlot trading, some sales $2 lower late in the week.

Trade activity was only moderate at best, as buyers came into the week bidding lower and never turned very aggressive for numbers.

Boxed beef cutout values moved lower and failed to give any support to live cattle prices. A moderate movement was noted each day until Thursday, when trade turned very slow. Some feedlot operators were reluctant to trade at these lower price levels and opted to carry cattle over.

Sales were confirmed on 97,800 head including 35,800 formulated, 4900 contracted and 3400 head of CME cattle.

The weighted average price of all beef type steers was $58.91. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1200 pounds compared to 1200 a week earlier and 1168 a year ago. Heifer percentages were 40, 41 and 39, respectively.

Slaughter steer and heifers prices in the Midwest direct trade area were $1-2 lower, Midwest terminals steady to mostly $1 lower, and western parts of the nation steady to mostly $2 lower.

The estimated boxed beef cutout value for choice 2-3 550-700 pound carcasses was down 85 cents at $104.72, 700-850 pounds down $1.29 at $102.79.

Commercial feedlots raised expectations early in the week, supported by strong gains in the futures. A bearish attitude surfaced mid to late week, however, following a reversal in futures trading, and sent bids for live cattle lower.

Beef cutouts moved in the same weak direction, though clearance remains good.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $58-59, few $59.25-59.50, few 1300-1400 lbs. $57-57.50, weighted average price $59.06; select and few choice 2-3 1150-1250 lbs. $57-58.75, weighted average $57.98; pen select and choice 2-3 1200 lb. Holsteins $52.50; select and choice 2-3 1150-1250 lbs. dressed $94. Slaughter heifers: select and choice 2-3 1000-1150 lbs. $58-59, few $59.50 weighted average $59.04; select and few choice 2-3 $58-58.75, weighted average $58.57; select and choice 2-4 1200-1300 lb. heiferettes $54.50-56; select and choice 2-3 1050-1150 lbs. dressed $93-94.