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November Florida Cattle Market Price Watch

November Florida Cattle Market Price Watch

Prevatt FL Cattle Market headerChris Prevatt, UF/IFAS Livestock Economist

Prevatt Nov Chart 1The August 2016 Feeder Cattle futures contract declined by $ 16.38/cwt. during November. Based on this futures price decrease, August Feeder Cattle revenues decreased by approximately $ 122.85/hd. ($ 16.38/cwt. *7.5 cwt.) on a 750-pound feeder steer which amounts to $ 8,190 per truckload (50,000 lbs.). The August Feeder Cattle futures contract low, contract high, and price range since September 2015 are $ 159.98, $ 188.70, and $ 28.72/cwt., respectively. The price range of $ 28.72/cwt. on a 750-pound feeder steer totals $ 215.44/hd. and $ 14,362.50 per truckload.Prevatt Nov Chart 2

  1. The breakeven price was estimated to be $ 768.00/hd. or $ 146.29/cwt. ($ 768.00/hd. divided by 5.25 cwt.). The breakeven price includes production costs of $ 750/hd. and death loss of $ 18.00/hd.
  2. The price objective was estimated to be $ 918.00/hd. or $ 174.86/cwt. ($ 918.00/hd. divided by 5.25 cwt.). The price objective includes production costs of $ 750/hd., death loss ($ 18.00/hd.), family living withdrawal ($ 100/hd.), and growth capital/retirement ($ 50/hd.).
  3. The expected cash price is equal to the daily August 2016 Feeder Cattle futures closing price plus an expected August 2016 South Florida 525 lb. Feeder Calf Basis of -$ 2/cwt.

 

PG

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Permanent link to this article: http://okaloosa.ifas.ufl.edu/newsletters/2015/12/12/november-florida-cattle-market-price-watch/