Quick Answer: How To Read Livestock Auction Report?
- 1 How do you read a livestock auction?
- 2 What does medium and large 1 mean?
- 3 How are live cattle prices quoted?
- 4 What does cwt mean in cattle prices?
- 5 What is the best age to sell cattle?
- 6 How much is a calf at auction?
- 7 What is a #1 steer?
- 8 What do cattle eat during backgrounding?
- 9 What is a number 1 steer?
- 10 How are livestock prices calculated?
- 11 Why is feeder cattle more expensive than live cattle?
- 12 How do you calculate cattle gain cost?
- 13 How much is a cow worth 2019?
- 14 What is a 10 cent slide on cattle?
- 15 What is the slide when selling cattle?
How do you read a livestock auction?
Once you buy your cattle, you must pick them up. Auction houses typically have a loading chute where you claim your animal. You’ll pay for your animals, and receive a bill of sale in return. You can show the bill of sale at the chute, and the auction staff will locate your animal for you.
What does medium and large 1 mean?
But the information probably is most useful to the producer who understands the terminology used by market reporters. For example, a Sept. 22 report summarizing feeder-cattle sales at the Saint Joseph, Mo., Stockyards said “Medium and Large 1” steers weighing 500 to 600 pounds (lb.)
How are live cattle prices quoted?
Live cattle futures and options are traded on the Chicago Mercantile Exchange (CME), which introduced live cattle futures contracts in 1964. Contract prices are quoted in U.S. cents per pound. Minimum tick size for the contract is $0.00025 per pound ($10 per contract).
What does cwt mean in cattle prices?
A hundredweight equals 100 pounds in North America. So, the total weight of the cattle divided by 100 equals the number of hundredweight of cattle.
What is the best age to sell cattle?
Then, recognizing that cows appreciate in the market until they are four years old, hold their own until about six years old and then depreciate, you might want to consider selling most of the cows as bred cows by the time they are six years old.
How much is a calf at auction?
Cow/Calf Pairs: $825.00 -$975.00. Feeder Steers: 300-399 lbs $165.00; 400-499 lbs $115.00-$153.00; 500-599 lbs $122.50-161.00; 600-699 lbs $137.50-$148.00; 700-799 lbs $122.00; 800-899 lbs $117.50-$131.00; 900-999 lbs $110.00.
What is a #1 steer?
A #1 Yield. Grade market steer will be extremely lean and heavy muscled. A #2 Yield Grade market steer will be lean and muscular, but not as extreme as a #1 Yield Grade. Market steers that possess average muscling with some finish will be classified as #3 Yield Grade.
What do cattle eat during backgrounding?
Corn silage will usually have to initially be offered in small amounts and increased as intake increases over a week to 10 days. Round-bale silage is an excellent exclusive feed for backgrounding calves, particularly when the feed is a grass-legume mixture.
What is a number 1 steer?
No. 1. Feeder cattle which possess minimum qualifications for this grade usually display predominate beef breeding. They must be thrifty and moderately thick throughout.
How are livestock prices calculated?
For example, say 300- to 500-pound steers are averaging $95 to $118. The price listed is for hundred weight. In other words, for every 100 pounds the steer weighs, you will receive up to $118.00. Thus, a 350-pound calf would bring $413.00 (3.5 X $118).
Why is feeder cattle more expensive than live cattle?
Feeder cattle are weaned calves that have reached a weight of between 600 and 800 pounds. Feeder cattle typically need to gain more than 500 pounds before they reach slaughter weights, so corn prices have a big impact on feeder cattle prices.
How do you calculate cattle gain cost?
A: Cost of gain is figured by dividing the total cost by the total pounds gained. If your total cost to feed your cattle from 600 lbs. to 1,200 lbs. (600 lbs. gain) was $356.94 per head, your cost of gain would be 59.49 per pound ($356.94 total cost divided by 600 lbs.
How much is a cow worth 2019?
Based on the 2019 budget, slaughter cows (1,200 pounds) are expected to average $50 per hundredweight, while 550 pounds steers and 520 heifers are expected to average $145 and $130 per hundredweight respectively.
What is a 10 cent slide on cattle?
Legendary Livestock is using the following system for website users choosing a price slide. The slide is measured in dollars per hundred weight ($/cwt) or cents per pound. $10/cwt is the same as 10 cents/lb. A price slide works on the assumption that heavier animals receive lower prices per hundred weight (cwt).
What is the slide when selling cattle?
The “slide” is a predetermined adjustment in the sale price of cattle and is included in the contract (forward contracting) or in the description of the cattle (video or Internet marketing) being offered for sale.