Buffalo Gap Farms

Beth Jansen · Jewell County, KS · Katie Rennick · client since 2021

629k bu at 63% priced · 3,739 head at 0% sold

$12M under management

Price to the planCosts are estimatesLast spoke in 37 days1 critical7 other findings(785) 555-3080

Position Plan Working Orders Sales Break-evens Livestock Recap

885 head has no floor under it. Whether that matters depends on the margin: with the market well over cost of gain it is a risk the desk can live with, and with the market near cost it is the finding that outranks everything else on this page.

Head to market

3,739

0 sold, 0% by head

Sold against pace

Pace target 35% by head.

Head with no floor

885

Unsold, with no endorsement and no forward contract.

On the table

$357,523

Margin over cost of gain in the unsold head, at today's market.

Pen, Jul placement Feedlot

3,739 head at 13.91 cwt · 52,009 cwt total

Needs a callReady in 4 months

Time stop passed: the 855 head lot was due 2026-06-09

The plan sells this lot on the calendar rather than the market, so cattle do not ride past condition and weight. Today's market is $182.00/cwt against a $175.13 break-even.

855 head at $182.00 banks $81,755 over cost of gain.

Cost of gain

$175.13

$2,436 a head. Stated, Apr 9, 2026.

Market today

$182.00

Feedlot at the outlets this client uses.

Average sold

—

Nothing sold off this group yet.

Market over cost

+$6.87

$357,523 across the unsold head.

Sold against pace, by head0% of 35% target

By head rather than by pounds, which is what a producer means. 0 head is 0% of the weight, because the lots that went first were not average.

3,739 unsold885 with no floorWindow Dec 9, 2026 to Jan 9, 2027

What is under the price

Index	Head	Coverage	Premium	Net floor	Against cost	Ends
Fed Cattle	2,854	$166.47	$-4.74	$161.73	-$13.40 Under cost	Dec 10, 2026 30 week endorsement

The net floor is the coverage price less the premium, because a $6.50 premium on a $240.00 coverage price is a $233.50 floor. And LRP settles on RMA's published index rather than on what these animals bring at the barn: the basis between the two stays with Beth Jansen, so this is not a guaranteed sale price and should never be described as one.

The ladder

Price	Head	Over cost	Away	Sell by	State
$182.06	855	+$6.93 $82,469	$0.06	Jun 9, 2026 2 months ago	Time stop passed
$187.65	664	+$12.52 $115,676	$5.65	Aug 9, 2026 15 days ago	Time stop passed

A grid lot's price is an estimate until the carcass data comes back, in the same way an HTA with the basis open is on the grain side. Both mean the average on the client's statement moves after the fact.