Posted by rrlund on February 21, 2014 at 07:02:19 from (162.250.26.144):
In Reply to: explain this for me posted by blue924.9 on February 21, 2014 at 06:54:09:
Sometimes I think I must be physic. I was just thinking about this. What you're seeing is "Feeder Cattle Futures". It's like trading the stock market. Those prices are for 600 pound feeders,fifty head lots,30,000 pound loads. The $171 price you refer to is $171 per hundredweight,or $1.71 per pound. Depending on where you are,I hooked up a link to United Producers Livestock Marketing. Go over to the right and click to the nearest sale barn to you to see actual auction prices if you're in an area served by them.
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