Plains Fed Cattle Command $60
In Flurry Of Sales At Midweek

The packers held out as long as they could this week, drawing on large numbers of Texas captives to try to stem the tide of higher prices. In the end, they failed.

Bids of $57-58 attracted no takers among feedlots emboldened by last week’s late rally, and by early Wednesday afternoon, buyers were forced to cross the $60 threshhold.

That bought a few; the Texas Cattle Feeders’ Association tallied 78,834 head through Wednesday afternoon on a 93,161-head showlist. Captives accounted for nearly 45,000 of them, leaving roughly 32,000 in cash sales. Some lots held out for more money, some refused the extra days packers wanted, and many didn’t get calls.

Kansas joined in to the tune of about 31,000 head through midafternoon. Captives there came to only around 17,000, down from nearly 40,000 as recently as three weeks ago — before the much-dismissed "captive boycott" began. Nebraska’s count ran to around 40,000 at presstime, including dressed deals of $94.50-96.

Midwest direct trade ranged from $58.50 to $60 live and $94 to mostly $95 dressed. Terminal markets paid $57-59.

The Southwest was slow at best through midweek, a few pens of lightweight, mostly Select steers bringing $58 en route to Mexico. Slow to moderate trade in the Northwest was $4 higher dressed basis at $91-92.

Last week’s stronger fat cattle showing gave stockers and feeders a boost.

St. Joseph, Mo. called 1000 head $1-3 higher and a compilation of results from four Florida auctions totaling 8538 head showed weights under 600 pounds $1-3 higher, heavier kinds steady to $1 higher. La Junta, Colo. was generally steady to $1 higher on 2580 head.

In Texas, Crockett sold about 1000 head on a steady to $2 higher market, San Antonio quoted a similar trend on about 1000head, some middle weights $3-5 higher, and Amarillo offered 2350 head at a steady rate on weights under 700 pounds, $1-3 higher on heavier weights.

San Angelo’s special feeder sale Monday attracted just over 2300 head. Prices were quoted firm to $1 higher after a similar performance last Friday.

With 12,200 head on hand, Oklahoma City called feeder steers $2-3 higher, steer calves steady to $4 higher, and heifers of all weights $3-4 higher. Best 250-300 pound steer calves brought $78-90.50; 300-400 pounds $75-82.75; 400-500 pounds $71.75-81.75; 500-550 pounds $67.50-77; 550-600 pounds $67.50-73; 600-650 pounds $69.25-74; 650-700 pounds $68.75-72.75; 700-750 pounds $66-71.25; 750-800 pounds $65.25-70.50; 800-850 pounds $63-67.75; 850-900 pounds $62.25-67.25; and 900-950 pounds $61.50-64.25.