Close-out information, consisting of data from 1836 pens of cattle that were placed on feed between January 1988 and December 1997, which had been submitted by Iowa cattle producers using the Iowa State University Feedlot Performance and Cost Monitoring program, was examined to determine factors affecting beef cattle performance and profitability. Information provided on close-out sheets included start and end date, cattle per pen, sex, housing type, days on feed, initial and sale BW, feed efficiency (FE), percentage of concentrate, ADG, percentage death loss, feed cost and total cost/45.4 kg of BW gain, breakeven sale price, non-feed variable cost, non-feed fixed cost, and corn price. Feeder cattle prices were calculated as feeder cattle price = [(breakeven sale price × sale BW) − (total cost of gain × gain)]/initial BW. Gains in 45.4-kg increments were calculated as gain = (sale BW − initial BW)/45.4. Fed cattle prices were obtained weekly from the report published by the USDA for Southern Minnesota and Iowa. Profit per head was calculated as profit = (sale BW × fed price) − [(total cost of gain × gain) + (feeder price × initial BW)]. Steers consumed more feed (P<0.0002), gained faster, were more efficient than heifers (P<0.0001), and tended to be more profitable (P>0.30) than heifers. Cattle housed under shelter generally gained more BW (P<0.0001) and were more efficient (P<0.004). With increasing initial BW, DMI and ADG increased, and cattle became less efficient (P<0.0001). Cattle ate less (P<0.01), gained more BW (P<0.05), and were more efficient with increasing concentrate level (P<0.0001). Cattle receiving lesser levels of concentrate were most profitable, and those receiving intermediate levels were least profitable (P<0.02). Season affected DMI (P<0.05) and FE (P<0.04). As the number of cattle per pen increased, DMI (P<0.05) and ADG (P<0.003) decreased, but FE was not affected (P>0.20). Fewer cattle per pen lead to greater (P<0.002) profit per head. Feeder and fed cattle prices explained ∼50% of the variation in profitability. Results indicate that performance and profitability of cattle feeding are rather complex and are affected by housing type, season, initial BW, concentrate level, sex, and pen cattle population.

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