Slaughter Steer Close-Out
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For the week ending April 29th

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.Typical closeout for un-hedged steers sold this week:
  • Placed On Feed 150 days ago = December 1st
  • Projected Profit/(Loss) based on the futures when placed on feed: ($0.61)
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Cost of 750 lb. steer delivered to the feedyard @ $168.94 per cwt. 
$1,267.05
Cost of gain* for 600 lbs. @ $81.29 per cwt.
$487.05
Interest** @ Prime + 2% on cattle cost for 150 days
$27.34
Interest** @ Prime + 2% of the feed cost for 150 days
$5.26
Total Cost & Expense
$1,787.39
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Sale proceeds: 1,350 lb. steer @ $124.00 per cwt.
$1,674.00
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This week's Profit/(Loss) per head
($113.39)
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Profit/(Loss) per head for previous week
($101.74)
Change from previous week
-$11.65
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Sale price necessary to breakeven
$132.40
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.Projected closeout for steers placed on feed this week:
  • Projected Sale Date @ 150 days on feed = September 26th
  • Cost of 750 lb. steer delivered to the feedyard @ $143.75 per cwt.
    $1,078.13
    Cost of gain* for 600 lbs. @ $81.87 per cwt.
    $491.22
    Interest** @ Prime + 2% on cattle cost for 150 days
    $24.37
    Interest** @ Prime + 2% of the feed cost for 150 days
    $5.55
    Total Cost & Expense
    $1,599.27
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    Sale proceeds: October Live Cattle Futures @ $112.32 per cwt.
    $1,516.32
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    Projected Profit/(Loss) per head
    ($82.95)
    . .
    Projected Profit/(Loss) per head for previous week
    ($102.66)
    Change from previous week
    +$19.71
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    Sale price necessary to breakeven
    $118.46
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    *In addition to feed costs, "Cost of Gain" includes death loss, medicine, insurance, etc.
     **Interest Rate @ Prime + 2.00% - Prime Rate as defined and published by The Wall Street Journal
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    Feedyard Close-Outs for the weeks ending:
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    Typical closeout for steers sold this week and hedged when placed on feed: ($0.61)
    Typical closeout for un-hedged steers sold this week: ($113.39)
    Projected Profit/(Loss) based on the futures & estimated Cost of Gain this week: ($82.95)
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