Ya these losses aren't fun, we have some in the lot too. But the way I see it is Fat cattle prices will need to go up some, as the demand with the world population is growing way to fast and the countries where the population is growing, like China for example are getting more and more money and can afford it more than they could of a few years back. Plus if the US just has an average corn crop this fall with the amount of acres being planted, their will be a record amount of corn harvested, not think if it is a get year. The feedlots can't sit empty and keep employees, so they will either close doors or buy calves, and if they close doors, then I see see some other outfit buying them at pennies on the dollar so they can feed calves. I don't see the price of calves dropping off at all, especially with the cow numbers out there. This drought has really dug a hole in the numbers in the U.S. and the price of grains has eaten up that ground so fast that the numbers will never come back to what they once were. I am an optimist so take it for what its worth.
Now all of that can change if our dam government gets in the way, which is quite possible.