That is a good question Ed. I don't know the answer, but, I'm sure it varies greatly from time, to time. The packers often have only the offal credits for a margin. Offal being the hide, bones, and everything but the beef. I suppose when feeder calves are high, (when Sam Olson is smokin' big black cigars, and lightin' them with hundred dollar bills,) the ranchers do well.
It is a big industry, I wish I could give you a better answer.
