An answer was finally reached to all those questioning “How high can these feeder cattle get?” during the 2011-2012 unprecedented commercial cattle market rally.(Click here or on the image at right to view it at full size in a new window). Typically, the feeder cattle market is measured by the price of a 750-pound long-time weaned steer calf or yearling steer, which is also the benchmark for the CME Feeder Cattle contract. The magic number appears to be “160,” as this was the level in which most mainstream cash markets and nearby futures contracts petered out.