Texas Fed Cattle Steady Last
Week, Most Trading Wednesday

AMARILLO —(USDA)— Slaughter steers and heifers closed last week mostly steady in Texas Panhandle and Western Oklahoma feedlot trading. Trade was slow early, turning moderate to active late, the bulk of the cattle trading in a fairly short period of time at mid-day Wednesday.

The week's hefty showlist wasn't completely sold out, leaving some carry-over. Strong CME futures prices supported cash and encouraged feeders to resist lower bids, but wholesale meat prices were weak despite a fairly conservative slaughter number. The week's movement of 120,200 head included 30,700 formulated and 300 contract cattle, and 119 loads or 4100 CME deliveries, many of which returned to feedlots.

The weighted average price of all beef type steers was $62.99. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1174 pounds compared to 1176 a week earlier and 1158 a year ago. Heifer percentages were 41, 41 and 39, respectively.

Packers continue to build inventories in an effort to have the upper hand. With good movement in the Midwest last week, heavy cattle are cleaned up. Carcass weights are slowly dropping and cattle numbers are beginning to tighten. Boxed beef prices declined $2.23 to $98.22. This is somewhat normal the last week of the month with payday the first of the month.

Demand was also limited as the first full week of Lent ended. Sow slaughter has slowed in light of advancing pork futures. Cheap corn and the recent upturn in hog prices may produce expansion and once again heavy pork supplies.

Some Texas trading:

Slaughter steers: mostly choice 2-3 1150-1300 lbs. $63.50; select and choice 2-3 1150-1300 lbs. $62.50-63.50, late mostly $63, weighted average price $63.02; select and few choice 2-3 1150-1350 lbs. $61.50-62.50, weighted average $62.04.

Slaughter heifers: few mostly choice 2-3 1150-1200 lbs. $63.50; select and choice 2-3 1050-1200 lbs. $62.50-63.50, late mostly $63, weighted average $62.98; select and few choice 2-3 1050-1200 lbs. $61.50-62.50, weighted average $62.14; pen utility to choice 2-4 1100-1250 lbs. including heiferettes $58.