Plains Fed Cattle Prices
Increase By Another Dollar

Plains fed cattle trading saw yet another week of modest but dogged price improvement as feedlots tacked a dollar onto last week's increase.

That brought the going rate to $64, up from $57 as recently as three weeks ago. Feedlots entered the week halfheartedly bidding a steady $63, and some feeders were still holding out for $65 at presstime.

After two days of jockeying for position, however, Texas Panhandle feedlots sold about 41,000 head Wednesday through midafternoon. Trades were still coming in, but that gave a total of roughly 66,000 head for that point in the week.

The showlist was off 8000 head at 78,873, and captives were much reduced with only 25,200 formulas and 1400 head of futures deliveries. The total captive figure was almost 46,000 head little more than a month ago, and was almost 40,000 when prices were floundering around $57. The experts, of course, insist there's no connection.

Kansas recorded 44,500 head at mostly $64 as well, and captives there were also down at 17,400. Nebraska counted 20,000 head at mostly $63 early and $63.50-64 late, dressed deals $98 to $100 in later rounds.

Midwest direct trade ranged $63.50-64 live with a few trades to $64.50, dressed mostly $99 with outsides of $98 and $100. Terminal markets trailed badly at $58 to $61.90.

The Southwest was slow to nil by midweek, a few pens of beef-breed cattle to Mexico at $60-62 late last week and some Holsteins in current trading at $59. The Northwest was lightly tested but about $1 higher dressed basis at anywhere from $96 to $98.50, a few to $99.

Stocker and feeder cattle trends ran steady to a shade higher, the best performances coming in Texas. The steady rise in fed cattle prices doubtless bolstered the market for feeder weights, and recent rains, though spotty, may have helped the humor of winter grazing operators.

St. Joseph called 1200 head generally steady with steers over 800 pounds $1 higher. A roundup of four Florida auctions selling 8700 head between them found feeders steady to $1 higher, and La Junta, Colo. was steady on yearling steers and heifers, calves lightly tested at 12,009 head over two days.

In Texas, Crockett quoted steers and heifers steady to $2 higher, instances $3 higher on 3786 head. San Antonio sold a little over 1800 head in two days and called prices mostly $2-5 higher. Amarillo was $3-4 higher on 2000 head.

Oklahoma City offered 14,800 head of mostly calves and termed prices steady to $2 higher. Best 300-350 pound steer calves brought $86-94; 350-400 pounds $83.75-96; 400-450 pounds $82.50-92.50; 450-500 pounds $78-88; 500-550 pounds $72.50-82; 550-600 pounds $71-77.50; 600-700 pounds $66.75-72.75; 700-750 pounds $68.50-70; 600-700 pound yearlings were $71.50-75.75; 700-750 pounds $69.50-75.25; 750-800 pounds $69-73; 800-850 pounds $67-71.50; 850-900 pounds $64.35-67.75; 900-950 pounds $63.50-64; and 950-1000 pounds $62.50-63.60.