Texas Fed Cattle Closed $1 Off
After Most Cattle Sold Steady

AMARILLO —(USDA)— Slaughter steers and heifers closed $1 lower in a limited late test last week in Texas Panhandle and Western Oklahoma feedlot trading. Most cattle sold earlier at steady prices.

Trade was slow throughout most of the week except for Wednesday morning, when it was fairly active. Demand was moderate to good but outlets narrow. Some packers never came to $62. Feedlot clearance was incomplete with a moderate carryover. Packer inventories are limited due to the light movement with some late week sales being picked up Friday. Weaker CME futures prices and lower boxed beef cutouts contributed to the downward pressure. Sales were confirmed on 65,400 head, including 1100 contracts and 22,600 formulated cattle.

The weighted average price of all beef type steers was $62.01. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1180 pounds compared to 1181 a week earlier and 1161 a year ago. Heifer percentages were 43, 38 and 39, respectively.

Slaughter steers and heifers sold steady to $1 lower at other marketing areas around the country.

The estimated boxed beef cutout value for choice 2-3 550-700 pound carcasses was down $1.65 at $98.97, 700-850 pounds down $1.85 at 98.11.

Early in the week commercial feedlots reluctantly sold some of their showlists at mostly steady prices and then ceased trading when packers dropped bids to $61. Lower packer margins became evident with declining boxed beef prices, and technical support also lost momentum as live cattle futures fell. At the close, the retail sector demand has improved somewhat with good movement.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $61-62.50, mostly $62, few late $61, weighted average price $62.05; select and few choice 2-3 1150-1250 lbs. $60.50-61.50, weighted average $60.95; few select and choice 1-3 1250 lb. Holsteins $54.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $61-62.50, mostly $62, few late $61, weighted average $62.11; select and few choice 2-3 1050-1150 lbs. $60-62, weighted average $60.86.