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{"sheet":"SellorKeep","index":0,"n_rows":97,"n_cols":14,"rows_kept":97,"cut":false,"hidden":false,"merged":[[0,0,0,6]]}
["Lease Grazing or Buy Cattle Analysis"]
["2003-10-13"]
["                                    Decision Description","Lease grazing or buy cattle and graze wheat"]
[null,"Date of Analysis",null,null,{"$f":"TODAY()","v":"2012-05-11"}]
["Lease Grazing Description",null," Contract Weaner Steer "]
["     Acres of Wheat Grazed ","Acres",null,null,200]
["     No. of Cattle Grazed","Head",null,null,100]
["     Date Started",null,null,null,"2012-11-15"]
["     Date Grazing Finished",null,null,null,"2013-05-01"]
["     Days Grazed","Days",null,null,{"$f":"E9-E8","v":167}]
["     Weight In ","Lb.",null,null,450]
[null,null,"Acres/Hd"," Lb./Acre In"]
["     Stocking Rate",null,{"$f":"E6/E7","v":2},{"$f":"(E11/C13)","v":225}]
["     Average Daily Gain",null,null,null,1.75]
["     Shrink If in Contract","%",null,null,0]
["     Net Weight","Lb.",null,null,{"$f":"((1-E15*0.01)*E11+(E10*E14))","v":742.25}]
["     Net Gain","Lb./Hd. or Ac.",null,null,{"$f":"E16-E11","v":292.25},{"$f":"(E17/C13)","v":146.125},"Lb./Acre"]
["     Gross Lease Rate","$/Lb. or $/Cwt. In",null,null,0.48,{"$f":"((F19/(D13*0.01))/(E10)*(365/12))","v":5.6777777777777771},"$/Cwt./Mo."]
["     Gross Lease Revenue - Opp. Cost","$/Hd./ or $/Ac.",{"$f":"(E19*E7)","v":14028},null,{"$f":"E18*E17","v":140.28},{"$f":"E19/C13","v":70.14},"$/Acre"]
["     Cattle Production Cost - Paid By Leasor","$/Hd./ or $/Ac.",null,null,10,{"$f":"E20/C13","v":5},"$/Acre"]
["     Net Revenue Per Head and Acre","$/Hd./ or $/Ac.",null,null,{"$f":"E19-E20","v":130.28},{"$f":"(E21/C13)","v":65.14},"$/Acre"]
["    Total Projected Grazing Net Income","$",null,null,{"$f":"E21*E7","v":13028},{"$f":"E22/(E7*E17)","v":0.44578272027373822},"$/Lb."]
["-"]
["Description of Retained Ownership Alternative  ",null,null,"Buy stockers & Graze"]
["     Date Started",null,null,null,{"$f":"E8","v":"2012-11-15"}]
["     Date Grazing Finished",null,null,null,{"$f":"E9","v":"2013-05-01"}]
["     Days Cattle Grazed","Days",null,null,{"$f":"E10","v":167}]
["     Number of Cattle Grazed","Head",null,null,{"$f":"E7","v":100}]
["     Weight In","Lb./Head",null,null,450]
["     Cost of Cattle In - See Margin & Slide","$/Cwt.",null,null,{"$f":"'Margin and Slide'!C36","v":138}]
["     Average Daily Gain","Lb./Day",null,null,1.75,"    Gross Gain & ADG"]
["     Weight Before Shrink","Lb./Head",null,null,{"$f":"E31*E27+E29","v":742.25},{"$f":"((E39*E32)-(E29*E28))","v":28482.75},{"$f":"IF(F32<=0,\"Undefined\",(F32/(E27*E39)))","v":1.7227817093086555}]
["     Shrink When Sold","%",null,null,3,"Gain / Hd.",{"$f":"(F32/E39)","v":287.70454545454544}]
["     Net Payweight ","Lb./Head",null,null,{"$f":"((1-E33*0.01)*E32)","v":719.98249999999996}]
["     Net Payweight Gain and Average Daily Gain","Lb./Head & Day",null,null,{"$f":"E34-E29","v":269.98249999999996}]
["     Gross Pay Weight Price - See Margin & Slide","$/Cwt.",null,null,{"$f":"'Margin and Slide'!D36","v":125.800175}]
["     Marketing Costs - Commissions","% - $/Head",null,3,{"$f":"((E34*E30*0.01)*D37*0.01)","v":29.807275499999996},"                    Net Gain (Deads In)"]
["     Marketing Costs - Per Head Charges","$/Head",null,null,1,null,"ADG"]
["     Number Marketed (Net of Death Loss)","Head",null,1,{"$f":"(100-D39)*0.01*E7","v":99},{"$f":"((E34*E39)-(E28*E29))","v":26278.267500000002},{"$f":"IF(E39<=0,\"Undefined\",(F39/(E27*E39)))","v":1.5894433859553621}]
["     Net Payweight Sales Revenue Per Head","$/Head",null,null,{"$f":"((E36*E34*0.01)-E38-E37)","v":874.93196946937496}]
["     Net Payweight Sales Revenue Value Per Cwt.","$/Cwt.",null,null,{"$f":"(E40/E34)*100","v":121.52128273525746}]
["Total Sales Value (Based on Head Marketed)","$",null,null,{"$f":"(E40*E39)","v":86618.264977468119},"Gain / Hd.",{"$f":"F39/E28","v":262.78267500000004}]
[]
[null,null,null,null,"Financial",null,"Economic*"]
["Total Projected Expenses",null,null,null,null,"Rate of Interest",null,null,null,null,"Annualized"]
["   Borrowed or Opportunity Cost of Equity Capital"," % Borrowed ",null,30,"%       Rate",10,"%",null,null,null,"Interest Rate"]
["   Opportunity Cost of Equity Capital If Invested","$",null,null,"Total",null,{"$f":"K53","v":3345.2158904109588},null,null,null,{"$f":"($F$46*($E$27/365))","v":4.5753424657534243},"%"]
["   Cash Interest Cost","$/Hd.",null,{"$f":"(E48/E28)","v":10.035647671232876},{"$f":"(D46*G47*0.01)","v":1003.5647671232877},null,null,null,null,null,"Economic Interest Cost"]
[null,null,"   Units"]
["Cost of Cattle",null,{"$f":"E7","v":100},{"$f":"(E29*E30)*0.01","v":621},{"$f":"C50*D50","v":62100},null,{"$f":"E50","v":62100},null,null,null,{"$f":"$E$50*(($E$27/365)*$F$46*0.01)","v":2841.2876712328766},"Cattle",null,{"$f":"K50*$D$46*0.01","v":852.38630136986296}]
["Cost of Nutrition, Health and Other Costs",null,null,"$/Unit",null,null,null,null,null,null,{"$f":"((SUM($E$52:$E$57)*0.5*(($E$27/365)*$F$46*0.01)))","v":503.92821917808214},"Feed",null,{"$f":"K51*$D$46*0.01","v":151.17846575342466}]
["   Cost Based on Income If Leased","Lb. Of Gain",{"$f":"G42","v":262.78267500000004},{"$f":"(E52/(C52*E28))","v":0.53382514657787072},{"$f":"C19","v":14028},null,{"$f":"E52","v":14028}]
["   Processing and Health","$/Hd.",1,10,{"$f":"D53*$E$28","v":1000},null,1000,null,null,null,{"$f":"(K51+K50)","v":3345.2158904109588},"Total Capital Use",null,{"$f":"(N51+N50)","v":1003.5647671232877}]
["   Extra Feed","$/Hd.",1,25,{"$f":"D54*$E$28","v":2500},null,{"$f":"E54","v":2500}]
["   Other","$/Hd.",1,25,{"$f":"D55*$E$28","v":2500},null,2500]
["   Management Cost or Return","% of Gross",0,{"$f":"(E40*C56*0.01)*(E27/365)","v":0},{"$f":"D56*$E$28","v":0},null,0]
["Target Net Margin Per Head Objective","$/Hd.",1,20,{"$f":"D57*$E$28","v":2000},null,2000]
["Total Specified Added Costs (Marginal Cost)",null,null,null,{"$f":"SUM(E48:E57)","v":85131.564767123287},null,{"$f":"SUM(G47:G57)","v":87473.215890410967}]
[]
["Cost Per Head","$/Hd.",null,null,{"$f":"(E58/$E$39)","v":859.91479562750794},null,{"$f":"(G58/$E$39)","v":883.56783727687844}]
["Cost of Net Payweight Gain ","$/Cwt.",null,null,{"$f":"IF(F39<=0,\"Undefined\",(E58-E50)/(F39*0.01))","v":87.644913300023617},null,{"$f":"IF(F39<=0,\"Undefined\",((G58-G50)/(F39*0.01)))","v":96.555893155478998}]
["Financial and Economic Advantage of Cattle Ownership & Margins**",null,null,null,"Financial",null," Economic",null,null,null,"Financial Performance"]
["                                    Net Income (Added Revenue - Added Cost)",null,null,"$",{"$f":"E42-E58","v":1486.7002103448322},null,{"$f":"(E42-G58)","v":-854.95091294284794},null,null,null,{"$f":"(K65/K74)","v":1.1092887224889796},"Financial Leverage Situation Index or ROE/ROA"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"(100-D46)","v":70},"Percent Equity"]
["                      Marketing Margin",null,null,"$/Head",{"$f":"B82","v":-74.90326029428428},null,null,null,null,null,{"$f":"(K66/K67)*100","v":19.760795438960951},"Return on Equity %"]
["                      Grazing or Feeding Margin",null,null,"$/Head",{"$f":"B84","v":89.920434136151371},null,null,null,null,null,{"$f":"E63+E57","v":3486.7002103448322},"Return to Equity = Net + Target"]
["                      Net Margin Based on Number of Head Out",null,null,"$/Head",{"$f":"E63/E39","v":15.017173841866992},null,{"$f":"(G63/$E$39)","v":-8.635867807503514},null,null,null,{"$f":"IF(D46=100,(((($E58-E48)*0.5+E22)*1)*($E27/365)),(((($E$58-$E$48)*0.5+$E$22)*(100-D46)*0.01)*($E$27/365)))","v":17644.533698630137},"Equity Investment"]
["-",null,null,"-","-",null,"-"]
["Price Necessary to Achieve Target Net Margin Objective",null,null,"$/Cwt.",{"$f":"(+E58+$E$38*$E$39)/($E$34*$E$39*0.01)/(1-($D$37*0.01))","v":123.27258321141295},null,{"$f":"($E$22+G58+$E$38*$E$39)/($E$34*$E$39*0.01)/(1-($D$37*0.01))","v":145.50236195572452}]
[null,null,null,null,null,null,null,null,null,null,{"$f":"(E73/E72)","v":274.96411178102585},"ROE/ROA"]
[null,null,null,null,null,"   Target"]
["Annualized Return on Assets - ROA - (Including Net Margin Objective)      %",null,null,null,{"$f":"IF($E$26=0,0,(($E$48+$E$57+$E$63)/((($E$58-$E$48)*0.5+$E$22)*($E$26/365)))*100)","v":7.1866816767338443E-2},{"$f":"IF(E26=0,0,((($K$53+$G$57)/((($G$58-G48)*0.5+$E$22)*($E$26/365)))*100))","v":8.3029531172433418E-2},null,null,null,null,{"$f":"IF($E$27=0,0,((($E$58-$E$48)*0.5+$E$22)*($E$27/365)))","v":25206.476712328767},"Total Assets"]
["Annualized Return on Equity - ROE - (Including Net Margin Objective)       %",null,null,null,{"$f":"K65","v":19.760795438960951},null,null,null,null,null,{"$f":"(E63+E57+E48)","v":4490.2649774681195},"Return to Assets = Net + Target Margin + Cash Interest"]
["-",null,null,null,null,null,null,null,null,null,{"$f":"(K73/K72)*100","v":17.813933413676498},"Return on Assets %"]
["*Economic costs include an opportunity cost for capital invested in cattle on feed and other cost of gain adjusted for the time"]
[" on feed. Ensure costs are full costs (don't include interest to prevent double counting; do include business overhead)."]
["**Based on net market weight and net value if sold at weaning versus the later sale."]
[]
[]
["Summary Margin Analysis*","$/Head"]
[]
["Marketing Margin",{"$f":"((E28*E29*0.01)*(E41-E30)/E39)","v":-74.90326029428428}]
[]
["Feeding Margin",{"$f":"((E41-B97)*B95*0.01)/E39","v":89.920434136151371}]
[]
["Net Margin",{"$f":"(B82+B84)","v":15.017173841867091}]
[]
[]
[null,"Weight"]
[]
["Total Purchase ",{"$f":"E28*E29","v":45000}]
[]
["Total Sales Based on Head Outs",{"$f":"E39*E34","v":71278.267500000002}]
[]
["Total Gain Based on Head Outs",{"$f":"B93-B91","v":26278.267500000002}]
[]
["Financial Cost of Gain Including Net Margin $/Cwt. ",{"$f":"((E58-E50)/B95)*100","v":87.644913300023632}]

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["Summary Margin Analysis"]
[]
[]
[{"$f":"SellorKeep!B7","v":"Head"}]
[null,null,"$/Head"]
["Marketing Margin",null,{"$f":"SellorKeep!B82","v":-74.90326029428428}]
[]
["Grazing or Feeding Margin",null,{"$f":"SellorKeep!B84","v":89.920434136151371}]
[]
["Net Margin",null,{"$f":"SellorKeep!B86","v":15.017173841867091}]
[]
[]
["Price Slide & Other Premium or Discount Calculator"]
["Dates",null,{"$f":"SellorKeep!E11","v":"1901-03-25"},{"$f":"SellorKeep!E25","v":"2012-11-15"}]
[]
["Actual Weight Used In Slide Calculation","Lb./Head",{"$f":"SellorKeep!E29","v":450},{"$f":"SellorKeep!E34","v":719.98249999999996}]
[" "]
["Cattle Price Slide Calculator-------------------"]
["  Base Price Before Adjusting for Weight Slide","$/Cwt.",138,125]
["  Base Weight for Calculating Slide","Lb./Head",500,800]
["  Tolerance Above Base Weight","Lb./Head",50,50]
["  Tolerance Below Base Weight","Lb./Head",50,50]
["  Price Slide ","$/Cwt.",1,1,null,null,"Calculation of Discounts or Premium"]
["Price Slide Discount (-) or Premium (+)","$/Cwt.",{"$f":"G26","v":0},{"$f":"G32","v":0.80017500000000041},null,null,{"$f":"IF((C16>(C20+C21)),(-C23*0.01*(C16-C20)),0)","v":0},"Heavy"]
[null,null,null,null,null,null,{"$f":"IF((C16<C20-C22),(C23*0.01*(C20-C16)),0)","v":0},"Light"]
["Market Basis Adjustment If Applicable","$/Cwt.",0,0,null,null,{"$f":"(G24+G25)","v":0},"Slide Discount 0r Premium"]
[]
["Quality Discounts (-), Premiums (+)"]
["  Muscling ","$/Cwt.",0,0,null,null,"Calculation of Discounts or Premium"]
["  Frame","$/Cwt.",0,0,null,null,{"$f":"IF((D16>(D20+D21)),(-D23*0.01*(D16-D20)),0)","v":0},"Heavy"]
["  Fill","$/Cwt.",0,0,null,null,{"$f":"IF((D16<D20-D22),(D23*0.01*(D20-D16)),0)","v":0.80017500000000041},"Light"]
["  Breed","$/Cwt.",0,0,null,null,{"$f":"(G30+G31)","v":0.80017500000000041},"Slide Discount 0r Premium"]
["  Feed Yard or Market Premium","$/Cwt.",0,0]
["Total Quality Discounts (-), Premiums (+)","$/Cwt.",{"$f":"SUM(C29:C33)","v":0},{"$f":"SUM(D29:D33)","v":0}]
[]
["Gross Cattle Price After Discount or Premium ","$/Cwt.",{"$f":"(C19+C26+C24+C34)","v":138},{"$f":"(D19+D26+D24+D34)","v":125.800175}]
[]
[]
["Summary of Prices",null,"Net Price ","Weight","Net Value"]
[null,null,"$/Cwt.","Lb./ Head","$/Head"]
["Weaning Weight ",null,null,{"$f":"SellorKeep!E13","v":0}]
[]
[null,null,null,"Net Mkt. Wt."]
["At Weaning"]
["   Net Payweight Sales if Sold",null,{"$f":"SellorKeep!E21","v":130.28},{"$f":"SellorKeep!E15","v":0},{"$f":"(C45*D45*0.01)","v":0}]
[]
["After Keeping Based on Head Out"]
["   Net Payweight Sales - Includes Market Cost Adjustments",null,{"$f":"SellorKeep!E41","v":121.52128273525746},{"$f":"SellorKeep!E34","v":719.98249999999996},{"$f":"(C48*D48*0.01)","v":874.93196946937508}]
[]
["-----------------------------------------","$/Head"]
["Price Necessary to Achieve Target Per Head of",{"$f":"SellorKeep!D57","v":20}]
["  Financial Target Net Margin Objective",null,{"$f":"SellorKeep!E69","v":123.27258321141295},{"$f":"SellorKeep!E34","v":719.98249999999996},{"$f":"(C52*D52*0.01)","v":887.54102642011117}]
["  Economic Target Net Margin Objective",null,{"$f":"SellorKeep!G69","v":145.50236195572452},{"$f":"SellorKeep!E34","v":719.98249999999996},{"$f":"(C53*D53*0.01)","v":1047.5915431678743}]

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["Cattle In-Price and Cost Sensitivity Analysis"]
[]
[]
["Cost of Gain, In-Price of Cattle and Sales Price Necessary to Reach Targeted Net Margin"]
[]
[{"$f":"SellorKeep!A57","v":"Target Net Margin Per Head Objective"},"$/Head",null,{"$f":"SellorKeep!D57","v":20}]
["Starting Pay Weight (Lb/Head)",{"$f":"SellorKeep!E13","v":0}]
["Projected Net Market Wt. (Lb/Head)",{"$f":"SellorKeep!E34","v":719.98249999999996},null,null,null,null,null,null,null,{"$f":"SellorKeep!D46","v":30},"% Borrowed",null,null,null,null,"Cattle",null,"Total Cash"]
["Projected Net Gain (Lb/Head)",{"$f":"SellorKeep!G42","v":262.78267500000004},null,null,null,null,null,null,null,{"$f":"(SellorKeep!$F$46*(SellorKeep!$E$27/365))","v":4.5753424657534243},"Annualized Interest Rate"]
[null,null,null,"Sales Price Necessary For Cattle Per Cwt. For",null,null,null,null,null,"Economic Interest Cost",null,null,"Cash Cost",null,null,{"$f":"B22","v":136},{"$f":"($P10*SellorKeep!$E$28*SellorKeep!$E$29*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2800.1095890410957},{"$f":"($Q10*SellorKeep!$D$46*0.01)+$M$11","v":991.21134246575343}]
["Interval of Change For Analysis Table ",null,null," Different In-Price, Cost of Gain and Cattle Out-Prices*",null,null,null,null,null,{"$f":"((SUM(SellorKeep!$E$52:$E$55)*0.5*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)))","v":458.17479452054789},"Feed & Other Costs",null,{"$f":"(SellorKeep!$K$51*SellorKeep!$D$46*0.01)","v":151.17846575342466},null,null,{"$f":"B23","v":137},{"$f":"($P11*SellorKeep!$E$28*SellorKeep!$E$29*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2820.6986301369861},{"$f":"($Q11*SellorKeep!$D$46*0.01)+$M$11","v":997.3880547945206}]
[null,"Dol./Cwt.",null,null,null,null,"",null,null,null,null,null,null,null,null,{"$f":"B24","v":138},{"$f":"($P12*SellorKeep!$E$28*SellorKeep!$E$29*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2841.2876712328766},{"$f":"($Q12*SellorKeep!$D$46*0.01)+$M$11","v":1003.5647671232877}]
["    Total Cost of Gain ",2,null,"Change and Associated Calculated Values",null,null,null,null,null,{"$f":"(SellorKeep!$E$28*SellorKeep!$E$29*SellorKeep!$E$30*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2841.2876712328766},"Cattle",null,{"$f":"(SellorKeep!K50*SellorKeep!$D$46*0.01)","v":852.38630136986296},null,null,{"$f":"B25","v":139},{"$f":"($P13*SellorKeep!$E$28*SellorKeep!$E$29*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2861.8767123287671},{"$f":"($Q13*SellorKeep!$D$46*0.01)+$M$11","v":1009.7414794520548}]
["    Cattle In-Price ",1,null,"-","-","-","-","-",null,null,null,null,null,null,null,{"$f":"B26","v":140},{"$f":"($P14*SellorKeep!$E$28*SellorKeep!$E$29*0.01)*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01)","v":2882.4657534246571},{"$f":"($Q14*SellorKeep!$D$46*0.01)+$M$11","v":1015.9181917808219}]
[null,null,null,"Decrease",null,"Input","Increase",null,null,{"$f":"(L18+J13)","v":3299.5225817900341},"Total Interest",null,{"$f":"(M11+M13)","v":1003.5647671232877}]
["Non-Cattle Costs With Cash Interest","$/Head",null,null,null,{"$f":"SellorKeep!E60+SellorKeep!E38","v":860.91479562750794},null,null,null,null,"Cost of Gain",null,"Added","Net Added"," Total"]
["Change in Cost of Gain ","Dol./Cwt.",null,{"$f":"B13*2*-1","v":-4},{"$f":"B13*-1","v":-2},null,{"$f":"B13*1","v":2},{"$f":"B13*2","v":4},null,null,"Change","Interest","Investment","Interest","Added"]
["Calculated Cost of Gain","Dol./Cwt.",null,{"$f":"($F$18+D17)","v":83.644913300023617},{"$f":"($F$18+E17)","v":85.644913300023617},{"$f":"SellorKeep!E61","v":87.644913300023617},{"$f":"($F$18+G17)","v":89.644913300023617},{"$f":"($F$18+H17)","v":91.644913300023617},null,null,{"$f":"G17","v":2},{"$f":"((SUM(SellorKeep!$E$52:$E$55)+M18)*0.5*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01))","v":458.23491055715749},{"$f":"($B$9*0.01*$B$13*0.5)","v":2.6278267500000005},{"$f":"L18-$J$11","v":6.0116036609599632E-2},{"$f":"(($B$9*B13)+N18)","v":525.62546603660962}]
[]
[null,null,null,"Necessary Sales Price per Cwt. for Cattle Out",null,null,null,null,null,null,{"$f":"H17","v":4},{"$f":"((SUM(SellorKeep!$E$52:$E$55)+M20)*0.5*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01))","v":458.29502659376709},{"$f":"($B$9*0.01*$H$17*0.5)","v":5.2556535000000011},{"$f":"L20-$J$11","v":0.12023207321919926},{"$f":"((B9*H17)+N20)","v":1051.2509320732192}]
[null,"Price ",null,"-","-","-","-","-"]
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[null,{"$f":"(B24-B14)","v":137},null,{"$f":"($B23*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R11+$O$24+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":121.09232663048498},{"$f":"($B23*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R11+$O$22+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":121.85256105081383},{"$f":"($B23*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R11+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":122.6127954711427},{"$f":"($B23*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R11+$O$18+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.37302989147157},{"$f":"($B23*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R11+$O$20+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":124.13326431180043}]
["Cattle In-Price  (Dol./Cwt)*  ------------>",{"$f":"SellorKeep!E30","v":138},null,{"$f":"($B24*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R12+$O$24+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":121.75211437075522},{"$f":"($B24*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R12+$O$22+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":122.51234879108408},{"$f":"($B24*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R12+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.27258321141295},{"$f":"($B24*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R12+$O$18+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":124.03281763174182},{"$f":"($B24*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R12+$O$20+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":124.79305205207068},null,null,{"$f":"D17","v":-4},{"$f":"((SUM(SellorKeep!$E$52:$E$55)+M24)*0.5*((SellorKeep!$E$27/365)*SellorKeep!$F$46*0.01))","v":458.05456244732875},{"$f":"($B$9*0.01*$D$17*0.5)","v":-5.2556535000000011},{"$f":"L24-$J$11","v":-0.12023207321914242},{"$f":"(($B$9*D17)+N24)","v":-1051.2509320732192}]
[null,{"$f":"B24+B14","v":139},null,{"$f":"($B25*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R13+$O$24+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":122.41190211102547},{"$f":"($B25*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R13+$O$22+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.17213653135433},{"$f":"($B25*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R13+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.93237095168321},{"$f":"($B25*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R13+$O$18+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":124.69260537201207},{"$f":"($B25*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R13+$O$20+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":125.45283979234092}]
[null,{"$f":"B24+2*B14","v":140},null,{"$f":"($B26*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R14+$O$24+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.0716898512957},{"$f":"($B26*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R14+$O$22+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":123.83192427162457},{"$f":"($B26*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R14+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":124.59215869195343},{"$f":"($B26*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R14+$O$18+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":125.35239311228229},{"$f":"($B26*SellorKeep!$E$28*SellorKeep!$E$29*0.01+SUM(SellorKeep!$E$52:$E$57)+$R14+$O$20+SellorKeep!$E$38*SellorKeep!$E$39)/(SellorKeep!$E$34*SellorKeep!$E$39*0.01)/(1-(SellorKeep!$D$37*0.01))","v":126.11262753261116}]
[]
["-"]
["*Price necessary to achieve targeted net margin objective"]