Slaughter Steer Close-Out
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For the week ending May 22nd...

.Typical closeout for un-hedged steers sold this week...
  • Placed On Feed 150 days ago = December 23rd
  • Projected Profit/(Loss) based on the futures & estimated Cost of Gain: ($156.51)
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Cost of 750 lb. steer delivered to the feedyard @ $229.12 per cwt. 
$1,718.40
Cost of gain* for 600 lbs. @ $86.44 per cwt.
$518.64
Interest** @ Prime + 1% on cattle cost for 150 days
$30.01
Interest** @ Prime + 1% of the feed cost for 150 days
$4.53
Total Cost & Expense
$2,271.58
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Sale proceeds... 1,350 lb. steer @ $159.50 per cwt.
$2,153.25
.
This week's Profit/(Loss) per head...
($118.33)
.
Profit/(Loss) per head for previous week...
($110.22)
Change from previous week...
-($8.11)
.
Sale price necessary to breakeven...
$168.27
.

.
.Projected closeout for steers placed on feed this week...
  • Projected Sale Date @ 150 days on feed = October 19th
  • .
    Cost of 750 lb. steer delivered to the feedyard @ $220.25 per cwt.
    $1,651.88
    Cost of gain* for 600 lbs. @ $81.62 per cwt.
    $489.72
    Interest** @ Prime + 1% on cattle cost for 150 days
    $28.85
    Interest** @ Prime + 1% of the feed cost for 150 days
    $4.28
    Total Cost & Expense
    $2,174.72
    .
    Sale proceeds... October Live Cattle Futures @ $152.60 per cwt.
    $2,060.10
    .
    Projected Profit/(Loss) per head...
    ($114.62)
    . .
    Projected Profit/(Loss) per head for previous week...
    ($119.83)
    Change from previous week...
    $5.21
    .
    Sale price necessary to breakeven...
    $161.09
    .

    *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

    .
    • 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
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    Feedyard Close-Outs for the weeks ending...
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