Ok guys, I'm a cow/calf producer and I too ended up keeping extra cows due to no market. I still have last year's heifers on grass and they,
as well as this falls run are what I'm looking at. My math needs checking or we still have a ways to go. I take $1.07 US feeders for Aug, .82 cent CDN dollar exchange which yeilds $1.30 CAN ; slide up .04 cents to get 800 lb'ers resulting in a $1.34 steer price. Taking off an .08 cent basis gives you $1.26. Clyde was quoting 800lb steers at $1.17 spot cash, a .09 cent discrepency.
Soooo, are we looking at a .17 cent basis, a market that is still correcting or my lousy math skills?
Just a note, this area NE of Edmonton is supposed to have the highest concentration of cow/calf operations in the province and it seems that given the same set of circumstances most ranchers did exactly the same thing ie., no preg check, held and calved the culls, normal no. of replacement heifers, and are now sitting with an extra 10-15% more calves. October should be an interesting month.