AMARILLO —(USDA)— Slaughter steers and heifers sold mostly $2 higher in Texas Panhandle and Western Oklahoma feedlot trading last week, pushing cash prices to over $70 for the first time since late 1996.

Trade was at a standstill until Tuesday afternoon when most of the buying took place.

Demand was termed very good. Higher CME futures prices and higher beef cutouts pushed the market up again. The good movement will leave most feedyards current with minimal carryover. Sales were confirmed on 119,300 head, including 40,500 formulated cattle.

The weighted average price of all beef type steers was $70.55. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1188 pounds compared with 1192 a week earlier and 1188 a year ago. Heifer percentages were 43, 40 and 47, respectively.

Slaughter steers and heifers traded mostly $2 higher around the country with a gain of $5-6 in the past three weeks. Indications from futures and boxed beef were that the rapid pace of the market may be subsiding and ready to level off.

The huge numbers of cattle on feed, 12.5 percent above the five year average, have moved spot futures and the cash slaughter market well above December slaughter CME futures. This combined with profitable closeouts in the feedlot should keep slaughter ready cattle moving smoothly. Boxed beef cutouts averaged $112.45 for a slight increase of 31 cents.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $69-71.25, mostly $70-71, weighted average $70.63; select and few choice 2-3 1150-1400 lbs. $69-70, weighted average $69.72.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $69-71.25, mostly $70-71, weighted average $70.69; select and few choice 2-3 1050-1200 lbs. $69-70, weighted average $69.88; few select and choice 2-4 1100-1250 lbs. including heiferettes $64-65.