LAA I got them actually bought for around $2.40 picked up In SD. This was in early Aug when the deal was done but I did not take delivery until Sept. 1. So after I bought them I made arrangements for some late pasture and winter wheat grazing to have them preconditioned for my yards in Jan-Feb.
I also have them locked in at $1.78 when finished. I did this with cash contracts and options. I actually had the fat contract before the calves where bought. I think around July 20th.
A couple of things helped:
1) The calves never left the ranch to go through a yard. So I bought them a little cheaper and they saved freight and yardage.
2) This deal would not have happened just a week to ten days later. The calf market took off then. The same calves would have brought $3/LBS.
3) I have bought the calves off this fellow for right at 5-6 years. I have given a little over market in the past to be fair so he returned the favor this year. We both are better off this way. The cow calf guys is making good money now. A few years ago that was not true.
4) I was able to hold my precondition cost down to around $75-80 per hundred.
LAA I will admit I took some risks I would not normally do. I actually had cattle sold as fats that I did not own yet as feeders for a few weeks. I would have still covered them but it could have been costly if the chips had fallen a different way.
I should have right at $2200 in them when finished. They should gross $2400. That is pretty tight. Everything will have to go as planned to work.
Also selling your corn as feed right now is looking real good. I am not sure how long this fat market will last.
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Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
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