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| I just looked and Aug-Dec live is $2.27*1600lbs. $3632 $2.27*1650lbs. $3745 $2.27*1700lbs. $3859
Last few years Cash has been higher than futures/+ basis
Cattle leaving the feedlots getting record prices so feedlots have some cash in hand.
Cheap corn that is already put in the pile waiting to be fed for cash.
At some point high prices will go lower and money will be lost but the above numbers show why they are bringing top dollar at the barns.
Also have to realize these hot barn results are for the top group sold and not all the cattle sold that day went for $ amount.
certain genetics will gain well past 1700lbs. Buyers know from past history which herds will produce and when those ranches take their calves to the barn the buyer is told to buy them no matter what the cost. | |
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$350 per head loss
