Slaughter Steer Close-Out
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For the week ending April 22nd

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.Typical closeout for un-hedged steers sold this week:
  • Placed On Feed 150 days ago = November 24th
  • Projected Profit/(Loss) based on the futures when placed on feed: ($24.84)
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Cost of 750 lb. steer delivered to the feedyard @ $174.65 per cwt. 
$1,309.88
Cost of gain* for 600 lbs. @ $81.06 per cwt.
$486.36
Interest** @ Prime + 2% on cattle cost for 150 days
$28.26
Interest** @ Prime + 2% of the feed cost for 150 days
$5.25
Total Cost & Expense
$1,829.74
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Sale proceeds: 1,350 lb. steer @ $128.00 per cwt.
$1,728.00
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This week's Profit/(Loss) per head
($101.74)
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Profit/(Loss) per head for previous week
($23.58)
Change from previous week
-$78.16
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Sale price necessary to breakeven
$135.54
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.Projected closeout for steers placed on feed this week:
  • Projected Sale Date @ 150 days on feed = September 19th
  • Cost of 750 lb. steer delivered to the feedyard @ $147.55 per cwt.
    $1,106.63
    Cost of gain* for 600 lbs. @ $78.38 per cwt.
    $470.28
    Interest** @ Prime + 2% on cattle cost for 150 days
    $25.01
    Interest** @ Prime + 2% of the feed cost for 150 days
    $5.31
    Total Cost & Expense
    $1,607.23
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    Sale proceeds: October Live Cattle Futures @ $111.45 per cwt.
    $1,504.58
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    Projected Profit/(Loss) per head
    ($102.66)
    . .
    Projected Profit/(Loss) per head for previous week
    ($27.83)
    Change from previous week
    -$74.83
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    Sale price necessary to breakeven
    $119.05
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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: ($24.84)
    Typical closeout for un-hedged steers sold this week: ($101.74)
    Projected Profit/(Loss) based on the futures & estimated Cost of Gain this week: ($102.66)
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