Past research has reported differences in feeder cattle prices received due to location of sale barns, but little is reported on the source of those differences.We developed a feeder calf hedonic pricing model that includes location-specific characteristics. Local factors may affect transaction costs for buyers and sellers, impacting the basis. Results show that basis increased $0.64/cwt for every 100,000 acres of wheat within a 100-mile radius. Basis decreased $0.07 per mile from four-lane roads. Basis decreased $1.99 per 1% of value-added volume. The impact of lot size, weight, hide color, frame, gender, and other phenotypic characteristics were also analyzed.