Texas Fed Cattle Price Trend
Changed Last Week; Some Higher

AMARILLO —(USDA)— Slaughter steers and heifers closed 50 cents to $2 higher last week in Texas Panhandle and Western Oklahoma feedlot trading.

Trade was slow during the holiday-shortened week until Thursday, when most movement took place. Buyers entered the week bidding at steady to lower levels, and feedlot operators held available cattle in firm hands. Buyers turned aggressive late, helping push price levels higher in light of stronger CME futures prices.

Most feedlot operators traded all or parts of their showlists with only minimal carryover to be noted. Sales were confirmed on 126,800 head including 37,100 formulated and 5000 head or 152 loads of CME deliveries.

The weighted average price of all beef type steers was $57.71. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1199 pounds compared to 1203 a week earlier and 1164 pounds a year ago. Heifer percentages were 42, 41 and 45, respectively.

Midwest terminal markets, Midwest direct areas and western parts of the nation were weak to $1 lower in early trading, closing firm to $1 higher.

The estimated boxed beef cutout value for choice 2-3 550-700 pound carcasses was down 27 cents at $97.73, 700-850 pounds down 32 cents at $95.10.

Cutouts, although slightly lower for the week, look impressive and indicate improved retail demand, given the fact that previous declines were sharp.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $56-58, late $57-58, weighted average price $57.75; select and few choice 2-3 1150-1300 lbs. $55-57, weighted average $56.18; select and choice 1-3 1200-1300 lb. Holsteins $50-51; dressed basis, select and choice 1-3 1200-1300 lb. Holsteins $89.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $56-58, few $58.50, late $57-58, weighted average $57.76; select and few choice 2-3 1075-1150 lbs. $56-57, weighted average $56.21; select and choice 2-4 1100-1250 lbs. including heiferettes $54-55.