Bayer Motor Co. Inc.
 
Texas Fed Cattle At Standstill;
Buyers, Sellers Did Not Budge

AMARILLO —(USDA)— Slaughter steer and heifer price trends were not established in Texas Panhandle feedlot trading last week. Trade and movement was at a standstill the entire week.

Buyers came into the week bidding $64-64.50 while feedlots were asking $67-69. Buyers never raised bids and feedlots never lowered asking prices.

The week's movement consisted of 48,800 cattle, including 4000 head traded the previous Friday at $66, 44,800 formulated cattle, and nine loads or 300 head of CME cattle.

The weighted average price of all beef type steers was $65.82. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1191 pounds, compared to 1185 a week earlier and 1195 a year ago. Heifer percentages were 42, 42 and 44, respectively.

In the northern part of the Midwest, cattle sold mostly $1 higher by midweek and feedlots cleared their showlists. Southern area packers continued to bid $2 under the previous week's market despite the more than $2 price rise in beef.

It is evident that cattle are being bought with short days on feed as the price spread between choice and select has widened to about $13.

Boxed beef prices rose $2.50 to average $110.50. Demand was very good for beef at the retail level. This continues to baffle analysts but encourages the industry as this is normally the time of year when beef movement slows.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $66; select and few choice 2-3 1150-1300 lbs. $64-65, weighted average price $64.90.

Slaughter heifers: select and choice 2-3 1050-1150 lbs. $66.




Questions? Comments? Suggestions? Email us at
alevek@livestockweekly.com
915-949-4611 | 915-949-4614 FAX | 800-284-5268
Copyright © 1997 Livestock Weekly
P.O. Box 3306; San Angelo, TX. 76902