I was thinking are materials really that high or is the dollar just valueless?
 you could buy the materials for two miles of fence to go around a quarter section for only the first three calves you sold.  That would be 100% paid for.  or finance it over 10 years and you would need less than half a calf per year to pay for it.

how does that compare historically?

I just watched an episode of sodak on youtube talking about $4,000 calves. (he doesnt build barb wire fences anymore, just high tensile.