Cattle Feeding Projections for November 2023
Click above to download the Cattle Feeding Projections, or find them below this month’s projections commentary.
October’s downward trend on the fed cattle futures has continued into November. Last month’s discussion of protecting your position is still applicable as fed cattle futures continue to settle. Given this market action, native steers and heifers don’t look profitable at this point in time with these feeding parameters. Historically speaking, fed cattle prices are high, but its feeder prices that are still setting records and a major driver for the profit loss column. We have discussed it many times but getting native cattle bought reasonable could give you a chance to capture a profit with these futures. Opportunity continues to show in the Holstein market. Self-feeding and TMR-fed Holsteins are in the black again this month and can be a great option for filling open pens. If you still have empty pens and are looking for options to make cattle work, call a Form-A-Feed Representative to discuss projections and feeding strategies that could work for you operation.
As you start feeding new crop, make sure to sample and analyze your feedstuffs. Knowing the nutrient value allows you to formulate more accurate diets, maximize feed inventory and influence your cost of gain. If you are in an area that was affected by drought or bad storms, be mindful of molds and mycotoxins that might be present in your feed. Feeding “bad” feed or unique ingredients? Form-A-Feed has proven technologies such as App-A-Tite to help make the most of your out of condition forages.