SE Manitoba | garvo - 6/22/2020 07:54
$135.71 live is a 1400# worth $1900 with a cost of less then $1400 leaves a margin of +$500,I guess making $500 margin is the markup during pandemic's.
Torrington,Wy -top of $142 on 66head of 769# steers-$1092
So - - - the question is - - - - can one put 600# of gain on a steer for $300?
I'm not an expert here but that means $0.50/# of gain including all costs.
What these numbers tell me is that someone locked in a loss.
The February board is at $107 and April is $109 so someone is betting hard on the come.
My pencil tells me that at today's numbers the best outcome for that group is a loss of some about $250 and that's using a $0.70 per pound cost of gain.
Does cost of gain (that's all costs and not just a bunch of cherry picking!!) ever get to $0.50?
Looks like the red ink is maybe not going to be a 24" pipe flowing flat out worth but its definitely still in serious hurting country!! |
choice down $213.72 with fats under $1
