Slaughter Steer Close-Out
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For the week ending May 1st...

.Typical closeout for un-hedged steers sold this week...
  • Placed On Feed 150 days ago = December 2nd
  • Projected Profit/(Loss) based on the futures & estimated Cost of Gain when Placed on Feed: ($56.60)
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Cost of 750 lb. steer delivered to the feedyard @ $243.24 per cwt. 
$1,824.30
Cost of gain* for 600 lbs. @ $85.41 per cwt.
$512.46
Interest @ Prime + 1% on cattle cost for 150 days
$31.86
Interest @ Prime + 1% of the feed cost for 150 days
$4.48
Total Cost & Expense
$2,373.10
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Sale proceeds... 1,350 lb. steer @ $160.00 per cwt.
$2,160.00
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This week's Profit/(Loss) per head...
($213.10)
.
Profit/(Loss) per head for previous week...
($191.50)
Change from previous week...
-$21.60
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Sale price necessary to breakeven...
$175.79
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.Projected closeout for steers placed on feed this week...
  • Projected Sale Date @ 150 days on feed = September 28th
  • Cost of 750 lb. steer delivered to the feedyard @ $213.87 per cwt.
    $1,604.03
    Cost of gain* for 600 lbs. @ $80.90 per cwt.
    $485.40
    Interest @ Prime + 1% on cattle cost for 150 days
    $28.02
    Interest @ Prime + 1% of the feed cost for 150 days
    $4.24
    Total Cost & Expense
    $2,121.68
    .
    Sale proceeds... October Live Cattle Futures @ $149.60 per cwt.
    $2,019.60
    .
    Projected Profit/(Loss) per head...
    ($102.08)
    . .
    Projected Profit/(Loss) per head for previous week...
    ($81.47)
    Change from previous week...
    -$20.61
    .
    Sale price necessary to breakeven...
    $157.16
    .

    *In addition to feed costs, "Cost of Gain" includes death loss, medicine, insurance, etc.
     **Interest Rate @ Prime + 1.00%... Prime Rate as defined and published by The Wall Street Journal

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    • Typical closeout for steers sold this week and hedged when placed on feed
    • Typical closeout for un-hedged steers sold this week
    • Projected Profit/(Loss) based on the futures & estimated Cost of Gain when Placed on Feed
    Feedyard Close-Outs for the weeks ending...
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