Texas Fed Cattle Prices Move
Lower, Weights Continue High

AMARILLO —(USDA)— Slaughter steers and heifers closed $1-2 lower last week in Texas Panhandle and Western Oklahoma feeding trading. Trade was slow except on Wednesday, when most sales took place.

Lower price pressure continued as numbers of market ready cattle and average weights remained high.

Boxed beef cutout values and CME futures prices were erratic but generally not supportive. Sales were confirmed on 123,500 head including 38,900 formulated and 1300 contracted cattle, plus 900 head or 30 loads of CME deliveries at area packing plants.

The weighted average price of all beef type steers was $57.30. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1199 pounds compared with 1200 a week earlier and 1164 a year ago. Heifer percentages were 40, 40 and 42, respectively. Slaughter steer and heifer prices in other trade areas were again $1-2 lower.

The estimated boxed beef cutout value for choice 2-3 550-700 pound carcasses was down 61 cents at $104.13, 700-850 pounds down $2.57 at $100.18. Another week of lower boxed beef cutout values and what appeared to be no support from the futures complex left commercial feedlots and other trade areas accepting lower bids from the packer.

Packers increased bids late week in some direct trade areas where numbers remained on showlists, following positive reversals in futures trading.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1275 lbs. $57-58.25, few 1300-1400 lbs. $55-56, weighted average price $57.35; select and few choice 2-3 1100-1400 lbs. $55-57, weighted average $56.43; select and choice 2-3 1200-1300 lb. Holsteins $52.

Slaughter heifers: select and choice 2-3 1050-1150 lbs. $57-58.25, weighted average $57.21; select and few choice 2-3 1050-1100 lbs. $56-56.50, weighted average $56.33.