calves in feedlots

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I've been hearing of people buying small calves and feeding them a few months, vacinating and worming them and then sending them to feedlots. At these feedlots they continue feeding them until market weight and then the feedlot sells them and sends the check minus feed, medicine and a boarding fee back to the orignial owner. Has anyone ever done this and does it make money? Which feedlots do ya'll use?
We do this starting out with 400# calves we don't sell them directly just send the steers through a order buyer or the barn and the heifers in this set are going to be bred and sold as bred heifers at the barn. There is money in it if you don't lose too many, but you can't save them all or lose them all...

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