Texas Fed Cattle Prices $1 Up
Last Week, Mostly On Thursday

AMARILLO —(USDA)— Slaughter steers and heifers sold mostly $1 higher in Texas Panhandle and Western Oklahoma feedlots last week. Once again, movement and trade was at a complete standstill until late in the week. Most buyers finally raised bids to the $70-71 level around noon on Thursday and feedlots became willing sellers.

Advances in wholesale boxed beef cutout values helped support higher live cattle prices. Most showlists were completely or partially depleted with only minimal carryover. Cattle to be carried were mostly those with only minimal numbers of days on feed.

Feedlot showlists remain lighter than normal and long-fed kinds are hard to find. Sales were confirmed on 82,700 head, including 30,400 formulated cattle. The weighted average price of all beef type steers was $70.94.

The average liveweight of most cattle slaughtered at area packing plants the previous week was 1180 pounds compared to 1188 a week earlier and 1184 a year ago. Heifer percentages were 46, 43 and 40, respectively.

Slaughter cattle prices elsewhere finished the week $1-2 higher. Packers showed heavy resistance to higher money as margins have tightened or even slipped into the red. Consumer demand won, however, and packers were forced to give more money Thursday afternoon.

Boxed beef cutout prices ended the week up $3.68 at $111.42. Boxed beef is on the rise again after analysts thought prices had peaked for the year. Thanksgiving is here, Christmas is just five weeks away, and beef demand is overcoming its seasonal doldrums to remain strong.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $70 to mostly $71, weighted average $70.97; select and few choice 2-3 1150-1350 lbs. $70-70.50, weighted average $70.22; select and choice 1-3 1250-1300 lb. Holsteins $62-64.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $70 to mostly $71, weighted average $70.96; select and few choice 2-3 1050-1250 lbs. $70; select and choice 2-4 1100-1250 lbs. including heiferettes $68-69.