Texas Fed Cattle Prices Closed
Lower After Most Sales Steady

AMARILLO —(USDA)— Slaughter steers and heifers closed mostly $1 lower in Texas Panhandle and Western Oklahoma feedlot trading, though many cattle traded at midweek at steady levels before buyers pushed bids lower.

Trade and movement was at a standstill on Monday and turned active Tuesday when the bulk of activity occurred. Most buying interests never seemed to be very aggressive for numbers and were satisfied to accumulate only immediate needs. Some feedlots were reluctant to trade at these price levels and carried cattle over.

Lower CME futures live cattle contracts and steady to lower wholesale boxed beef cutout values failed to hand support to the fed cattle trade. Sales were confirmed on 96,000 head including 25,600 formulated cattle.

The weighted average price of all beef type steers was $61.01. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1184 pounds compared to 1180 a week earlier and 1161 the same week a year ago. Heifer percentages were 42, 43 and 43, respectively.

Most other trading areas were also steady to $1 lower.

The estimated boxed beef cutout values 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 had improved somewhat with good movement.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $60-61, few early at $62, late $60, weighted average price $61.02; select and few choice 2-3 1150-1350 lbs. $58-61, weighted average $60.33; select and choice 1-3 1250 lb. Holsteins $53.50.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $59.50-61, few $61.50, few early $62; late $60, weighted average $61.04; select and few choice 2-3 1050-1150 lbs. $58.50-59.