Texas Fed Cattle At Standstill;
Buyers, Sellers Did Not BudgeAMARILLO
(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.
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