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Slaughter
Steer Close-Out
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For the week ending
March 12th...
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 .Typical
closeout for un-hedged steers sold this week...
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Placed On Feed
135 days ago = October 28th
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Projected Profit/(Loss)
based on the futures when Placed on Feed: ($27.18)
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| Cost of 750
lb. steer delivered to the feedyard @ $93.74 per cwt. |
$703.05
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| Cost of gain*
for 500 lbs. @ $82.66 per cwt. |
$413.30
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| Interest**
@ 5.25% on cattle cost for 135 days |
$13.65
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| Interest on
50% of the feed cost for 135 days |
$4.01
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| Total Cost
& Expense |
$1,134.01
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| Sale proceeds...
1,250 lb. steer @ $94.50 per cwt. |
$1,181.25
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| This week's
Profit/(Loss)
per head... |
$47.24
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| Profit/(Loss)
per head for previous week... |
$22.14
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| Change from
previous week... |
+$25.10
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| Sale price
necessary to breakeven... |
$90.72
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.Projected
closeout for steers placed on feed this week...
Projected Sale
Date @ 135 days on feed = July 25th
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| Cost of 750
lb. steer delivered to the feedyard @ $102.01 per cwt. |
$765.08
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| Cost of gain*
for 500 lbs. @ $75.73 per cwt. |
$378.65
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| Interest**
@ 5.25% on cattle cost for 135 days |
$14.86
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| Interest on
50% of the feed cost for 135 days |
$3.68
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| Total Cost
& Expense |
$1,162.26
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| Sale proceeds...
August Live Cattle Futures @ $90.57 per cwt. |
$1,132.13
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| Projected
Profit/(Loss)
per head... |
($30.13)
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. |
| Projected Profit/(Loss)
per head for previous week... |
($37.78)
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| Change from
previous week... |
+$7.65
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| Sale price
necessary to breakeven... |
$92.98
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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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-
Typical closeout
for steers sold this week
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Projected closeout
for steers placed on feed this week
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