Texas Fed Cattle Higher Last
Week In Thursday-Only Trading

AMARILLO —(USDA)— Slaughter steers and heifers sold 50 cents to $1 higher in Texas Panhandle and Western Oklahoma feedlot trading last week. Trade was at a standstill until around noon on Thursday, when buyers raised bids to the $69-70 level and feedlots became willing sellers.

Feedlot showlists continue to run lighter than normal and the lightest in two years. Most feedlots traded their entire showlists or most of them with very little carryover, and cattle to be carried are mainly those with fewer than normal days on feed.

Fed cattle prices advanced despite declines in wholesale boxed beef cutout values.

Sales were confirmed on 80,800 head, including 28,600 formulated cattle and 400 CME deliveries. The weighted average price of all beef type steers was $69.81. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1188 pounds compared to 1181 a week earlier and 1175 a year ago. Heifer percentages were 43, 47 and 46, respectively.

Slaughter cattle sold steady to $1 higher in other marketing areas under good demand as packers were again forced to compete for light numbers of market-ready cattle. Pasture conditions in winter grazing areas are well below ideal, causing many calves to move into feedlots. Thus feedlots are full, but not with slaughter-ready cattle. Slaughter-ready numbers are expected to rise shortly, but by then the Thanksgiving holiday will be past and beef demand should pick up in time to meet the increase in kill.

Boxed beef cutout values ended the week down $1.04 at $107.74. The week's cutout is down $4.81 from the peak of this year on October 22. The last time the cutout was at the $107 level was the week ending September 10. The on-hoof slaughter cattle price in the Texas-Oklahoma-Kansas area then was $66-66.50 and the Midwest on-the-rail price was $102-104. Weekly slaughter was well over 700,000 head at that time.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $69 to mostly $70, weighted average $69.91; select and few choice 2-3 1150-1350 lbs. $68-69.50, weighted average $69.01.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $69 to mostly $70, weighted average $69.95; mostly choice 2-3 1100-1200 lbs. $70.50; select and few choice 2-3 1050-1250 lbs. $69-69.50, weighted average $69.06.