Texas Fed Cattle $2 Higher,
Movement Good On Thursday

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

Trade was slow and inactive most of the week as sellers held available cattle in strong hands in the face of higher CME futures levels. Buying interests continued to bid steady to lower until Thursday, when bids were raised and trade turned active.

Most feedlots became willing sellers at the higher price levels and showlists were depleted with only minimal carryover. Sales were confirmed on 114,800 head, including 37,400 formulated and 1500 head of contracted cattle.

The weighted average price of all beef type steers was $58.86. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1195 pounds compared to 1192 a week earlier and 1176 the same week a year ago. Heifer percentages were 42, 44 and 42, respectively.

Slaughter steer and heifer prices closed the week $1-2 higher at most marketing areas around the country.

The estimated composite of boxed beef cutout values for choice 2-3, 550-700 pound carcasses was down $1.45 at $95.88, 700-850 pounds down 94 cents at $94.19.

The week experienced reductions in the supply of live cattle, boxed beef and slaughter. In an effort to spur retail demand, boxed beef prices declined to the lowest levels seen in months. However, packers were forced to pay more to acquire live cattle, even though they experienced lower profit margins, as bullish attitudes at commercial feedlots were supported by improved technical factors, such as the number of live cattle deliveries tendered and higher futures prices.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $57-59.50, late $59-59.50, weighted average price $58.88; select and few choice 2-3 1150-1300 lbs. $58-58.50, weighted average $58.18.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $57-59.50, late $59-59.50, weighted average $58.96; select and few choice 2-3 1050-1150 lbs. $57-58.50, weighted average $58.06.