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Iowa State
University Yearling to Finish Crush Margin |
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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. |
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Live weight |
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1250 |
pounds |
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Feeder weight |
750 |
pounds |
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Corn |
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50 |
bushels per steer |
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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. |
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Based on closing
futures prices for |
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January 25, 2023 |
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Basis Adjusted Price for: |
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Placement Month |
Selling Month |
Feeder Cattle |
Live Cattle |
Corn |
Crush Margin |
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Aug-22 |
Jan-23 |
184.32 |
158.48 |
7.12 |
242.89 |
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Sep-22 |
Feb-23 |
186.74 |
156.96 |
7.28 |
197.39 |
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Oct-22 |
Mar-23 |
178.21 |
164.36 |
6.62 |
386.94 |
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Nov-22 |
Apr-23 |
178.78 |
164.67 |
6.80 |
377.55 |
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Dec-22 |
May-23 |
179.22 |
166.15 |
6.51 |
407.18 |
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Jan-23 |
Jun-23 |
182.32 |
162.38 |
6.56 |
334.53 |
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Feb-23 |
Jul-23 |
188.59 |
160.56 |
6.50 |
267.54 |
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Mar-23 |
Aug-23 |
190.52 |
159.69 |
6.49 |
242.92 |
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Apr-23 |
Sep-23 |
195.75 |
161.62 |
6.46 |
229.32 |
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May-23 |
Oct-23 |
200.70 |
161.50 |
6.44 |
191.31 |
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Jun-23 |
Nov-23 |
208.84 |
164.52 |
6.43 |
168.55 |
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Jul-23 |
Dec-23 |
210.15 |
165.06 |
6.33 |
170.70 |
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Aug-23 |
Jan-24 |
212.23 |
168.10 |
5.94 |
212.69 |
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Sep-23 |
Feb-24 |
216.50 |
167.86 |
5.92 |
178.63 |
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Oct-23 |
Mar-24 |
217.56 |
172.98 |
5.57 |
252.06 |
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Nov-23 |
Apr-24 |
214.51 |
173.30 |
5.59 |
277.68 |
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