Slaughter Steer Close-Outs
Current & Future (Projected)
.For the week ending February 23rd

.
Closeout projections are for cattle placed on feed by a cattle owner at a commercial feedyard and not for cattle owned by a feedyard and fed at cost or a farmer/feeder utilizing his own feed.

Typical closeout for un-hedged steers sold this week:

  • Placed On Feed 165 days ago = September 11th
  • P/(L) based on the futures when placed on feed: ($8.06)
.
Cost of 750 lb. steer delivered @ $148.56 per cwt:       $1,114.20
Feed Cost for 600 lbs. @ $73.42 per cwt:                        $440.52
Interest @ Prime + 2% on cattle cost for 165 days:            $28.96
Interest @ Prime + 2% of the feed cost for 165 days:          $5.73
Total Cost & Expense:                                                 $1,589.41
.
Sale proceeds: 1,350 lb. steer @ $128.00 per cwt:    $1,728.00
.
This week's Profit/(Loss) per head:                             $138.59
.
Profit/(Loss) per head for previous week:                          $174.50
Change from previous week:                                             -$35.91
.
Sale price necessary to breakeven:                              $117.73
.

.
Projected closeout for steers placed on feed this week:
  • Projected Sale Date @ 165 days on feed = August 7th
  • Cost of 750 lb. steer delivered @ $148.28 per cwt:       $1,112.10
    Feed Cost for 600 lbs. @ $74.68 per cwt:                        $448.08
    Interest @ Prime + 2% on cattle cost for 165 days:           $31.42
    Interest @ Prime + 2% of the feed cost for 165 days:          $6.33
    Total Cost & Expense:                                                $1,597.93
    .
    Sale proceeds: August Futures @ $113.70 per cwt:   $1,534.95
    .
    This week's Profit/(Loss) per head:                            ($62.98)
    .
    Profit/(Loss) per head for previous week:                        ($37.13)
    Change from previous week:                                            -$25.85
    .
    Sale price necessary to breakeven:                             $118.37

    .
    Typical closeout for hedged steers sold this week: ($8.06)
    Typical closeout for un-hedged steers sold this week: $138.59
    Projected closeout for steers placed on feed this week: ($62.98)
    .
     
     
     
    .
    Copyright © TM - The Cattle Range - All Rights Reserved