Texas Fed Cattle Move Higher
In Half-Day Trading Last Week

AMARILLO —(USDA)— Slaughter steers and heifers sold steady to 50 cents higher in Texas Panhandle and Western Oklahoma feedlot trading last week. Fed cattle prices trended slightly higher as mixed trends were noted in wholesale boxed beef cutout values.

A standoff existed between buyers and sellers until late week, when buyers raised bids and feedlot operators lowered asking prices to trade at steady to higher levels. The week's total movement occurred after noon Thursday.

Some carryover of available cattle was noted, but many of these have only minimal days on feed and buyers were hesitant to purchase. Sales were confirmed on 113,300 head including 49,700 formulated cattle.

The weighted average price of all beef type steers was $65.98. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1185 pounds compared to 1188 a week earlier and 1199 a year ago. Heifer percentages were 42, 41 and 42, respectively.

Slaughter cattle traded mostly steady to 50 higher in most marketing areas. Packer demand remained good. Packer profit margins are slightly lower, but the decline was not significant enough to cut the large Saturday kills. Boxed beef prices were virtually unchanged at $107.55. Beef movement was good over the last of the summer holidays and demand at the retail level is off to a strong start as some grocery chains have begun advertising huge beef special.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $66-66.50, weighted average price $66.02; select and few choice 2-3 1150-1300 lbs. $64.50-66, weighted average $65.35; mostly select 2-3 1200-1300 lbs. $63-64.

Slaughter heifers: select and choice 2-3 1050-1150 lbs. $66-66.50, weighted average $66.03; select and few choice 2-3 1050-1200 lbs. $64-66, weighted average $64.91.