The average economic returns to feedlot operators for September are losses of nearly $340 per steer, according to the latest projections from Kansas State University economist Glynn Tonsor. Currently, the net returns projected for closeouts in August are losses of $184.99 per head for steers and $195.57 per head for heifers.

Tonsor’s latest set of numbers suggest that those returns could retreat to losses of nearly $70 per steer in December. By May 2020, projections suggest a return to the black, with gains of nearly $10 per steer.

Losses aren’t expected to be as large for heifers. Losses in September are expected to be approximately $280 per heifer but could return to gains of nearly $40 by next May, Tonsor’s projections suggest.