AgCenter Current Breakeven Projection & Current Close Out

<div class=\"default-font-wrapper\" style=\"line-height: 1;font-size: 12pt; font-family: Verdana, Geneva, sans-serif;\"><p id=\"isPasted\" style=\"box-sizing: inherit; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; max-height: 1e+06px; letter-spacing: 0.5px; margin: 0px 0px 1rem; font-size: 19px; line-height: 1.6; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\">CURRENT BREAKEVEN PROJECTION</span></p><p style=\"box-sizing: inherit; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; max-height: 1e+06px; letter-spacing: 0.5px; margin: 0px 0px 1rem; font-size: 19px; line-height: 1.6; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\">The Cattle Report introduces the FEEDER METER. The report estimates profit or loss for currently purchased feeder steers and projects a result 180 days out. &nbsp;The chart is interactive and updated every 15 minutes in real time based on changes in futures markets in grain and cattle. Corn basis information is based on current trade prices adjusted every two weeks. Feeder prices are based on the USDA index price for 800# steers and fed cattle sales are $2 cwt. premium the appropriate futures contract.</span></p><div style=\"box-sizing: border-box; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin-bottom: 1.75em; gap: 2em; max-height: 1e+06px; display: flex; align-items: center; flex-wrap: nowrap; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-size: 19px; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><div style=\"box-sizing: inherit; max-height: 1e+06px; flex-grow: 1; min-width: 0px; overflow-wrap: break-word; word-break: break-word; margin: 0px; flex-basis: 0px;\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\"><iframe src=\"https://embeds.agcenter.com/cattlereportchart/feeder_meter\" style=\"box-sizing: inherit; max-height: 75vh; width: 1140px; min-height: 205px; height: 205px; border: none;\"></iframe></span></div></div><p style=\"box-sizing: inherit; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; max-height: 1e+06px; letter-spacing: 0.5px; margin: 0px 0px 1rem; font-size: 19px; line-height: 1.6; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\">CURRENT CLOSE OUT</span></p><p style=\"box-sizing: inherit; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; max-height: 1e+06px; letter-spacing: 0.5px; margin: 0px 0px 1rem; font-size: 19px; line-height: 1.6; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\">The Cattle Report estimates current profit or loss on cattle placed on feed 180 days ago. This report generated from industry averages attempts to simulate a typical close out based on the feeder index for 800# steers 180 days ago. The close out assumes grain was purchased at market each month. Selling prices and interest rates are based on prevailing benchmark quoted prices. This chart will change weekly.</span></p><div style=\"box-sizing: border-box; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin-bottom: 1.75em; gap: 2em; max-height: 1e+06px; display: flex; align-items: center; flex-wrap: nowrap; color: rgb(51, 51, 51); font-family: Oswald, sans-serif; font-size: 19px; font-weight: 400; text-align: start; background-color: rgb(255, 255, 255);\"><div style=\"box-sizing: inherit; max-height: 1e+06px; flex-grow: 1; min-width: 0px; overflow-wrap: break-word; word-break: break-word; margin: 0px; flex-basis: 0px;\"><span style=\"box-sizing: border-box; font-family: Verdana, Geneva, sans-serif; font-size: 12pt;\"><iframe src=\"https://embeds.agcenter.com/cattlereportchart/teeter_meter\" style=\"box-sizing: inherit; max-height: 75vh; width: 1140px; min-height: 205px; height: 205px; border: none;\"></iframe></span></div></div></div>