Slaughter Steer Close-Out
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For the week ending March 12th...

.Typical closeout for un-hedged steers sold this week...
  • Placed On Feed 135 days ago = October 28th
  • Projected Profit/(Loss) based on the futures when Placed on Feed: ($27.18)
Cost of 750 lb. steer delivered to the feedyard @ $93.74 per cwt. 
$703.05
Cost of gain* for 500 lbs. @ $82.66 per cwt.
$413.30
Interest** @ 5.25% on cattle cost for 135 days
$13.65
Interest on 50% of the feed cost for 135 days
$4.01
Total Cost & Expense
$1,134.01
Sale proceeds... 1,250 lb. steer @ $94.50 per cwt.
$1,181.25
This week's Profit/(Loss) per head...
$47.24
.
Profit/(Loss) per head for previous week...
$22.14
Change from previous week...
+$25.10
.
Sale price necessary to breakeven...
$90.72
.

.Projected closeout for steers placed on feed this week...
  • Projected Sale Date @ 135 days on feed = July 25th
  • Cost of 750 lb. steer delivered to the feedyard @ $102.01 per cwt.
    $765.08
    Cost of gain* for 500 lbs. @ $75.73 per cwt.
    $378.65
    Interest** @ 5.25% on cattle cost for 135 days
    $14.86
    Interest on 50% of the feed cost for 135 days
    $3.68
    Total Cost & Expense
    $1,162.26
    Sale proceeds... August Live Cattle Futures @ $90.57 per cwt.
    $1,132.13
    Projected Profit/(Loss) per head...
    ($30.13)
    . .
    Projected Profit/(Loss) per head for previous week...
    ($37.78)
    Change from previous week...
    +$7.65
    .
    Sale price necessary to breakeven...
    $92.98
    .

    *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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    • Typical closeout for steers sold this week
    • Projected closeout for steers placed on feed this week

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