Plains Fed Cattle Not Moving,
So Feedlots Feel Optimistic

Plains cattle feeders were feeling better about themselves and their market at midweek, said one observer, mostly because nobody was selling anything.

After last week’s early collapse, doing nothing was seen as a show of strength.

Texas movement came to 42,698 head through Wednesday afternoon, 38,000 of those captives and the rest mostly Friday deals at $57. This week’s bids were $56-57, asking prices $58-59, and some feeders were talking boldly of passing on the latter figure. The showlist was down 5200 at 92,620 head.

Kansas was quiet as well, 18,800 head tallied and 17,500 of those captives. Nebraska counted 26,000 head moving for the week at $58 live and $92-93 dressed.

Midwest direct trade areas recorded scant trade at $57-58 live and $91-93 dressed. Terminals paid $55-58.20.

The Southwest was at a standstill, the Northwest steady in slow trading at $89-90.50 dressed.

Stocker and feeder cattle prices were a mixed bag, ranging from notably lower in some areas to higher in others.

Some rains through parts of wheat country improved prospects for stocker weight calves, but much more is needed to put real legs under the market. Meanwhile, cheap grain should stand feeder weights in good stead, but the erratic fat market and longterm losses in equity have made feeding a perilous gamble.

St. Joseph, Mo. offered fewer than 1000 head and noted a strong undertone on yearlings, weaker on calves. La Junta, Colo. was steady on yearlings, $2-3 lower on steer calves and generally $3 lower on heifer calves; receipts came to 4759 head. A roundup of four Florida auctions offering 7681 head between them called feeders under 600 pounds $1-3 lower, heavier weights steady to $1 lower.

In Texas, Crockett offered 1400 head and quoted steers and heifers steady to $1 higher. Fewer than 1000 head at San Antonio sold steady over two days, and Amarillo was steady to $1 higher on 3300 head.

Oklahoma City offered 8200 head to a generally steady market. Best 300-350 pound steer calves brought $84-90.50; 350-400 pounds $78-86.50; 400-450 pounds $78-82; 450-500 pounds $71-78; 500-600 pounds $67-73; 600-700 pounds $65.50-71.50; 700-800 pounds $66-71.50; 800-850 pounds $65-67; 850-900 pounds $60.50-64; and 950-975 pounds $57.25-60.25.