| Projected Background Returns For Steers in Utah | |||||
| Placement Date | 1/28/2012 | 1/28/2012 | 1/28/2012 | 1/28/2012 | 1/28/2012 |
| Initial Weight | 450 | 550 | 650 | 550 | 650 |
| Initial Price ($/cwt) a | $176.13 | $162.50 | $150.25 | $162.50 | $150.25 |
| Initial Cost ($/head) | $792.59 | $893.75 | $976.63 | $893.75 | $976.63 |
| Projected Average Daily Gain | 1.50 | 1.50 | 1.50 | 2.00 | 2.00 |
| Projected Days on Feed | 133 | 133 | 133 | 100 | 100 |
| Projected Final Weight | 650 | 750 | 850 | 750 | 850 |
| Estimated Total Cost of Gain ($/cwt) b | $121.59 | $135.60 | $148.44 | $104.12 | $112.58 |
| Estimated Total Cost of Gain ($/head) | $242.57 | $270.52 | $296.13 | $208.23 | $225.16 |
| Initial Cost + Total Feeding Cost | $1,035.16 | $1,164.27 | $1,272.76 | $1,101.98 | $1,201.79 |
| Projected Break-even Sales Price | $159.38 | $155.34 | $149.82 | $146.93 | $141.39 |
| Projected Sales Date | 6/9/2012 | 6/9/2012 | 6/9/2012 | 5/7/2012 | 5/7/2012 |
| Current FC Futures Market | $159.00 | $159.00 | $159.00 | $157.55 | $157.55 |
| Historical Basis c | -$2.57 | -$12.21 | -$17.69 | -$5.56 | -$11.53 |
| Estimated Selling Price | $156.43 | $146.79 | $141.31 | $151.99 | $146.02 |
| Projected Returns ($/head) | -$19.14 | -$64.08 | -$72.33 | $37.94 | $39.38 |
| a Salina Auction Market Prices | |||||
| b Based on Utah Hay and Grain Prices | |||||
| c Salina Utah 5-year Average | |||||