The average retail price for fresh beef in April was $6.22 per pound — 26 cents higher per pound than it was the month before, according to the Bureau of Labor Statistics. Depending on weight at feedlot placement, feeding conditions, and desired grade, the feeding period can be 90 to 300 days. Average gain is from two and a half to four pounds per day on about six pounds of dry-matter feed per pound of gain. Soybean oil prices crossed over the 70 cents per pound threshold last week. Table 2 shows the break-even purchase prices that could be paid for a 550-pound steer given alternative fed-cattle prices and cost of gain. Those already in the cattle business around Cheyenne and Laramie—the Lathrams, the Iliffs and the Dole brothers— made a killing. Each $1 change in the cost of gain will raise or lower the price finishers can pay by $1.40 for a 500-pound calf and $0.64 for a 750-pound feeder. This time there is a different driver. Wholesale prices for cattle reached a heart-stopping $6.47 per hundredweight in May 1870— meaning an 850-pound steer went for $55. The last time that happened was 2008 when crude oil was $140 per barrel. Slaughter cows will average $50 per hundredweight (this measurement unit is equal to 100 pounds and is abbreviated as Cwt) 550 pound steers and 520 pound heifers should bring $145 and $130 per hundredweight; The average price will vary according to the weight of the cow at the time that it's sold. The quality grades are Prime, Choice, and Select.
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