Plains Fed Cattle Trade Jells
By Midweek; Prices Up At $67

Plains cattle feeders were scratching their heads Wednesday afternoon as the dust began to clear, wondering just how they pulled off a $1-2 rise in the market while selling cattle at midweek.

The general feeling was that packers were simply too short-bought and didn't have as many captives with which to hold the market, er, captive. Texas formula numbers, for instance, fell below 40,000 head for the first time in weeks.

The Panhandle area sold about 55,000 head Wednesday, roughly 80 percent of them at $67. Added to the nearly 40,000 captives, that more than covered the 87,000-head showlist.

Kansas had moved 25,600 head through late afternoon, along with 31,800 captives; the going rate was $66 to mostly $67, a few to $67.50. Nebraska's count came to 30,000 on the day and 47,000 on the week, live prices $66-67 and dressed terms $104 to mostly $105 with a few to $106.

Midwest direct trade ranged from $65 to $67 live and $104-105 dressed, terminal markets $62-67.20.

The Southwest was quiet save for the Southern San Joaquin Valley and Nevada, where several hundred head of mostly Select steers and heifers brought $62.50-63; Holstein steers were $61. The Northwest was steady to $1 higher in active trading at $102.50-104 dressed.

Stocker and feeder cattle trends struggled to find a consistent pattern.

St. Joseph, Mo. offered 1100 head and termed the market $1-3 lower. A roundup of four Florida auctions with 8405 head between them called trends steady to $2 lower. La Junta, Colo., however, was mostly steady on steer calves, $1-2 higher on heifer calves, $1 higher on steer yearlings and steady to $1 higher on heifer yearlings.

In Texas, Crockett quoted 2380 head steady to firm on weights under 500 pounds, heavier kinds fully steady. San Antonio sold 1550 head Monday at steady to $2 higher prices, then gave up as much as $5 Wednesday on a few hundred head. With 3200 head on hand, Amarillo declined to quote a trend on steers but noted a "strong undertone"; heifers under 600 pounds were $2-3 higher, heavier weights $1-2 lower.

Oklahoma City was $1 higher on feeder weights, steady on steer calves but $2 lower on heifer calves; receipts came to 9324 head. Best 300-400 pound steer calves brought $100-113; 400-450 pounds $96.50-110; 450-500 pounds $86.50-99.25; 500-550 pounds $84.50-92.50; 550-600 pounds $81-89.25; 600-700 pounds $77-86.50; yearlings, 600-700 pounds $80-86.50; 700-750 pounds $77.50-84; 750-800 pounds $77.75-80; 800-900 pounds $75-78.75; and a few 900-950 pounds $72.25-72.75.