Plains Fed Cattle Trading
At Standstill Over $56 Bids

Plains fed cattle trade was at a virtual standstill through Wednesday afternoon as feedlots faced yet another effort by packers to squeeze money out of a market that was already reduced to pulp and rind.

After weeks of relentless price-slashing, packers entered the market — so to speak — Monday offering $56 and filling the resounding silence with captive supplies. A few scattered sales developed at $56.50-57, but by Wednesday those deals had dried up and the two sides stood toe to toe over the $56 line.

In addition to the usual large volume of formula and contract cattle, packers had access to supplies left over from last week’s massive 123,000-plus Panhandle movement. With margins well in the black, however, they were expected to keep kill rates high, meaning they would eventually need cattle. Nevertheless, many observers appeared resigned to a spate of $56 deals by Thursday.

The Texas Cattle Feeders Association counted a total of 43,189 head changing hands through late Wednesday, more than 38,000 of them captives. That was on a showlist of 92,765 head.

The story was the same in Kansas, where a few pens of $57 cattle sold, but their 32,600 head volume was otherwise a straight formula and contract deal. Nebraska’s total came to 47,600 head, live trades at $57-57.50 and dressed prices mostly $92.

Midwest direct areas recorded $57-58 live rates and $91-93 dressed, terminals $56-57.75.

The Southwest was slow overall, a few hundred beef breed steers bringing $57-57.50, Holsteins $52.75. Moderate movement in the Northwest saw prices $1-4 lower on a dressed basis at $87.50-89.

Stocker and feeder cattle prices were a mixed affair, trends lower in most areas but steady to higher in others.

With numbers picking up ever so slightly, St. Joseph, Mo. called steers and heifers steady to $1 higher. A collection of Florida auctions offering 7465 head between them reported $2-4 lower trends on most weights and both sexes.

In Texas, Crockett was $1-3 lower on 1715 head, and San Antonio sold roughly 1000 head at a steady rate. Amarillo offered 2325 head and called steers and heifers generally steady to $2 lower, some heifers over 550 pounds firm to $1 higher.

Oklahoma City reported a steady market on 11,500 head. Best 300-400 pound steer calves brought $81-89; 400-500 pounds $74-85; 500-600 pounds $71-76.50; 600-650 pounds $68.25-75.50; 650-700 pounds $67.25-71.75; 700-800 pounds $64.25-69.50, several fancy offerings $69.75-71.50; 800-850 pounds $63-66.75; 850-900 pounds $62.50-63.25; 900-950 pounds $59.50-63; and 950-1000 pounds $57.25-58.25.