by the same token, if the feeder is getting hosed all the time, he should start his own cow herd, right now would be a good time i'd think, cow prices are down.

be the same as a farrower deciding all of a sudden to feed out his own pigs.   gotta find the space to finish them, the feed to feed them, gotta develop your buyer contacts, gonna have talk to the banker, not going to any usable income off of the calves you use to sell, for almost two years. 
 
and lets be honest a lot of those 50 cow herds are in places where finishing cattle would be a tough proposition.