Texas Fed Cattle Trade Higher,
Most Sales Made On Wednesday

AMARILLO —(USDA)— Slaughter steers and heifers sold $1-2 higher in Texas Panhandle and Western Oklahoma feedlot trading last week. Trade was slow and at a standstill until late Wednesday, when buyers raised bids and became aggressive.

Most feedlots became willing sellers while some held cattle firm and waited until Thursday to sell. Many feedlots traded their entire showlists or most of them, leaving only minimal carryover. Advances in the fed cattle trade were supported by some price strength in wholesale boxed beef cutout values. Sales were confirmed on 121,000 head, including 40,700 formulated cattle.

The weighted average price of all beef type steers was $68.03. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1192 pounds, compared to 1183 a week earlier and 1195 last year. Heifer percentages were 40, 43 and 42, respectively.

Elsewhere, slaughter steers and heifers ended the week $1-3 higher and $4 higher than two weeks earlier. Packer demand again was good as prices rose to another high for the year. The top of $69 is also the highest since November 1997.

October CME live cattle futures topped the $70 mark Thursday and closed $1.83 higher for the week. Feedlots depleted the week's showlist, but on the other hand, feedlots are beginning to get full of lighter weight cattle or are already full with a waiting list.

The other white meat is battling for a place in the Russian meat aid package and might move beef out. However, beef continues to sell to great demand in the U.S. Boxed beef prices rose $1.71 to $111.71.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $66.50-69, late $68-69, weighted average price $68.12; select and few choice 2-3 1150-1300 lbs. $66-68, weighted average $67.45.

Slaughter heifers: select and choice 2-3 1050-1150 lbs. $67-69, late $68-69, weighted average $68.05; select and few choice 2-3 1050-1200 lbs. $66-68, weighted average $67.63.