Texas Fed Cattle Prices Lower
Last Week In Forced Trading

AMARILLO —(USDA)— Slaughter steers and heifers moving direct in the Texas Panhandle and Western Oklahoma last week closed mostly $1 lower than two weeks ago. Movement the previous week was light, leaving nearly two showlists to sell.

Trade was slow except for the previous Friday afternoon and again Wednesday morning for a short time. An unstable futures trade and sharply lower boxed beef prices added pressure. Many feedlots failed to move their lists, resulting in moderate carryover. Confirmed sales totaled 139,500 head including 41,900 formulated cattle.

The weighted average price of all beef type steers was $61.39. The average liveweight of most cattle slaughtered at area packing plants last week was 1183 pounds compared to 1180 a week earlier and 1153 the same week a year ago. Heifer percentages were 42, 49 and 41, respectively.

Slaughter steers and heifers sold steady to $1 lower in other marketing areas. 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 improved somewhat with good movement.

The estimated composite of boxed beef cutout values for choice 2-3 550-700 pound carcass was down $1.65 to $98.97, 700-850 pounds down $1.85 to 98.11.

Some Texas trading:

Slaughter steers: select and choice 2-3 1100-1250 lbs. $60-62.50, late $60-61, weighted average price $61.40; select and few choice 2-3 1150-1350 lbs. $59.50-61, weighted average $60.33; pen select and choice 1-3 1200 lb. calf-fed Holsteins $57.50.

Slaughter heifers: select and choice 2-3 1000-1150 lbs. $60-62.50, late $60-61, weighted average $61.47; select and few choice 2-3 1050-1150 lbs. $60-61.50, weighted average $60.77; few select and choice 2-4 1050-1250 lbs. including heiferettes $56.50-59.