Plains Fed Cattle Trade At Standstill,
Falling Back Into Late-Selling Groove

Plains fed cattle trading was back to normal this week after several weeks of Wednesday or earlier movement; nothing was doing through Wednesday afternoon.

Feedlots had sold by Wednesday for four weeks in a row, giving up a dollar each go-round the first two weeks, then wresting those two dollars back the second two weeks. That left last week's trade at $66, a price that corraled more than 106,000 head in the Texas Panhandle area.

Emboldened by their success and perhaps stinging a bit from the knowledge that packers were averaging more than $35 per head in the black, area feedlots this week upped the ante. By Wednesday they were asking $67-68 and considering that a paltry demand in light of packers' profits and the even larger margins consistently pulled down by retailers.

Adding to their resolve were declining showlists as more and more empty pens turn up. Last week's Panhandle area list, at 76,500 head, was off 10,000 beeves from the week before, and carryover to this week was 28 percent, the lowest since September, according to the Texas Cattle Feeders Association. A 30 percent carryover is considered "current," TCFA notes.

Given those conditions, packers weren't even in the game, bidding a desultory $64 with an occasional $65 for variety. Movement in the area was thus nil aside from 26,200 head of captives, and even that figure is down from the normal volume. The showlist stood at 75,802 head, down yet again.

Kansas counted 18,800 head, all captives as in Texas, and Nebraska had moved 18,700 at $65 live and $102 to mostly $103 dressed.

Midwest direct trade was light at $65-66 live and $102-103 in the beef. Terminals paid $62.50-66.10.

The Southwest remained quiet, the Northwest $1 higher in a limited test at mostly $104 dressed.

Light holiday-week receipts of stocker and feeder cattle found steady to higher prices in most parts of the country.

St. Joseph offered 300 head and quoted trends steady to $2 higher, while steady rates prevailed at four Florida auctions with combined receipts of 2943 head. La Junta, Colo. sold 1236 head and called steers steady, heifers over 600 pounds steady and lighter heifers $2-3 higher.

In Texas, Crockett was $1-3 higher on 1269 head and San Antonio was $2-4 higher on a thin test of fewer than 550 head over two days. Amarillo managed 2100 head and a steady to $2 higher market, as much as $2-4 higher on heifers over 700 pounds.

Oklahoma City receipts came to 4100 head, prices $1-2 higher. Best 400-450 pound steer calves brought $93.50-96.50; 450-500 pounds $88-88.25; 500-550 pounds $83.50-87.50; 550-600 pounds $79-82.75; 600-650 pounds $79.50-82; 650-700 pounds $73-78.75; 700-750 pounds $75.25-78.25; 750-800 pounds $70-75; 800-850 pounds $69.75-73.25; 850-900 pounds $67.50-71.25; 900-950 pounds $63.75-67.50; and 950-1000 pounds $64.50-64.75.