Iowa State University Yearling to Finish Crush Margin
             
The Crush Margin is the return remaining after accounting for the feeder steer and corn that is used to cover the other more constant expenses.  The Crush Margin is based on the following assumptions.
Live weight 1250 pounds
Feeder weight 750 pounds
Corn 50 bushels per steer
The table below uses average cash prices of placement week for feeder cattle and corn.  It uses basis adjusted live cattle, feeder cattle, and corn futures for cattle not yet placed.  Red values are known.
Based on closing futures prices for January 17, 2018
    Basis Adjusted Price for:  
Placement Month Selling      Month Feeder Cattle Live Cattle Corn Crush Margin
Aug-17 Jan-18 158.70 122.00 3.09 180.29
Sep-17 Feb-18 154.73 120.19 3.09 187.44
Oct-17 Mar-18 153.72 124.21 2.99 250.22
Nov-17 Apr-18 159.97 124.74 3.00 209.42
Dec-17 May-18 163.37 120.22 3.03 125.92
Jan-18 Jun-18 155.26 117.11 3.12 143.46
Feb-18 Jul-18 151.20 113.18 3.38 111.80
Mar-18 Aug-18 150.82 112.11 3.35 102.67
Apr-18 Sep-18 151.55 111.04 3.46 78.62
May-18 Oct-18 152.32 110.18 3.39 65.20
Jun-18 Nov-18 153.13 112.40 3.66 73.43
Jul-18 Dec-18 154.41 112.93 3.45 81.22
Aug-18 Jan-19 154.49 116.11 3.82 101.68
Sep-18 Feb-19 156.36 115.04 3.70 80.27
Oct-18 Mar-19 156.04 117.33 3.61 115.86
Nov-18 Apr-19 151.21 117.86 3.62 158.11