Market optimism, cheap corn, expensive feeders and remarkable feeding conditions combined to produce that result. What's really remarkable is that cattle could be feed that big without damaging product quality with over-finishing. It's testimony to the improvement in cattle genetics. They were bred bigger as well as fed bigger. Carcass weights should trend lower in 2001.
Corn is cheap but is unlikely to reach the give away levels of last summer.
The spread between feeder cattle and fed cattle prices has changed, making trading fats for feeders a more reasonable proposition. In-weights of feeder cattle will be lower in 2001 as the record pace of placements has drawn down the residual feeder cattle supply in terms of weight with lighter animals now going on feed. Animals that go on feed at a lighter weight finish at a lighter weight. Finally 2001 feedlot performance is not going to match gains experienced in 2000. 2001 market weights are going to trend below 2000 market weights.