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MB-SK | We are no where near $1.20 for 550 lb steers here. More like 0.85 cents/pound here. Even at that price the feedlot guys are saying prices are too high. Corn is $5.50 here right now. Feed quality barley is a bit cheaper. High vomitoxin level barley is $3.50-4 bushel, but low vomitoxin barley is $4.50.
I read an article the other day and the analyst speculates that if corn goes to $6 then feeder cattle prices have downside potential in the range of $25/100 pounds. I guess that would make our calves here worth next to nothing at 60 cents/pound.
Alot of guys are talking of calving the cows this year and then selling or doing some heavy culling late summer or early fall. If calf prices get really ugly I can see 25-30% of our cows hanging on hooks by fall | |
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feeder cattle outlook
