Texas Fed Cattle Higher Last
Week In Wednesday-Only Trade

AMARILLO —(USDA)— Slaughter steers and heifers sold mostly $1 lower in Texas Panhandle and Western Oklahoma feedlot trading last week. Most trades took place on Wednesday afternoon, when many yards sold out.

Packer demand backed off some again and kill numbers were slightly lower. Lower CME futures and boxed beef cutouts continue to keep packers cautious. Many feedyards are near capacity.

Confirmed sales totaled 91,400 head including 30,100 formulated cattle and 3000 contracts. The weighted average price of all beef type steers was $68.98. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1189 pounds compared to 1179 a week earlier and 1183 a year ago. Heifer percentages were 42, 47 and 48, respectively.

Elsewhere, slaughter cattle sold weak to mostly $1 lower. Packer demand was fairly good as most showlists cleared by midweek. The market still has a good tone despite a retreat from posted highs two weeks ago. Cattle are well ahead of anticipated slaughter dates with some cattle among current offerings carrying late November projections. Initial sales at bottom money often had a December hedge, allowing feeders a positive basis to boost returns.

The boxed beef cutout value ended the week down 47 cents at $111.19. Hide and offal value continues to be $1 better than last year, giving packers a $12 per head edge over 1998.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $69-69.50, weighted average $69.11; select and few choice 2-3 1150-1350 lbs. $67-68.50, weighted average $67.86; pen select and choice 1-3 1250 lb. Holsteins $61.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $69-69.50, weighted average $69.08; select and few choice 2-3 1050-1250 lbs. $67-68, weighted average $67.52.