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Someone please help me understand the beef feeder market. Looking at the market reports 500lb black beef bulls or steers are in the 1.50lb range. I would like to buy just 15 or so animals this fall. I have the facilities in place. I would be feeding individually wrapped silage bales which I own and are about worthless if i would try to sell them right now. I would have to purchase a grain mix to supplement the hay. I would sell to someone else to finish them when the time was right. I used to do this and play the market so to speak. It worked okay and I enjoy the cattle. It seems like the finished cattle price doesn't support what people are paying for feeders. Even worse what if market prices decline? Any thought on why the market is the way it is? Margins seem tighter than ever. Even with cheap corn feeders seem high to me.