Texas Fed Cattle Steady Last
Week In Wednesday-Only Trade

AMARILLO —(USDA)— Slaughter steers and heifers sold steady in Texas Panhandle and Western Oklahoma feedlot trading last week. All trade took place late Wednesday, barely ahead of the Thanksgiving holiday.

The short kill week conserved packer inventory of live cattle and resulted in some carryover. Boxed beef cutouts and a fairly light showlist supported cash prices which held steady despite light holiday demand. Many feedyards are at or near capacity.

Sales were confirmed on 74,100 head, including 32,400 formulated cattle. The weighted average price of all beef type steers was $70.97. The average liveweight of most cattle slaughtered at area packing plants the previous week was 1175 pounds compared to 1180 a week earlier and 1181 a year ago. Heifer percentages were 48, 46 and 28, respectively.

Slaughter cattle traded steady to $1 higher in other trading areas. Demand was good for the light supplies of finished cattle. Sellers resisted lower packer bids until late Wednesday evening before settling on steady to better money.

The recent report of record numbers of cattle on feed had little impact on the markets as lightweight placements were historically large.

The good news on the meat export front is that China has entered the World Trade Organization. Given that China is a large producer of pork and small in beef, it is believed that beef will fair well in exports to China's growing middle class over the next five years.

Boxed beef cutout prices ended the week up $1.13 at $113.17. Boxed beef cutouts on average are only 54 cents below the year's peak, which occurred on October 20.

Though Choice carcasses are still down some, this is partially overcome by gains in Select grade.

Some Texas trading:

Slaughter steers: select and choice 2-3 1150-1300 lbs. $71, pen $71.50, weighted average $71; select and few choice 2-3 1150-1300 lbs $70-70.50, weighted average $70.07; pen select and choice 1-3 1250 lb. Holsteins $64.

Slaughter heifers: select and choice 2-3 1050-1200 lbs. $71, pen $71.50, weighted average $71; select and few choice 2-3 1050-1200 lbs. $70-70.50, weighted average $70.14, few select and choice 2-4 1100-1200 lbs. including heiferettes $69-69.50.