Industry-wide average cattle feeding closeouts were printed in red ink last week for the first time since late September, while packers saw another significant decline to their margins.

Average cattle feeding margins improved $20 per head last week, which beef packer margins declined 17%. Farrow-to-finish operations recorded per head losses for the fourth consecutive week.

Cattle and hog finishing profit margins were little changed from last week, with modest profits for cattle and losses for hogs. Beef packer margins declined again to their lowest mark since March.

Higher grain prices and lower cash livestock prices contributed to a decline in feeding margins last week, leaving closeouts showing red ink for both cattle and hogs.

Cattle and hog feeding margins were little changed last week, with both recording modest losses. Beef packers saw improved margins on significant gains in wholesale beef prices.

Cattle and hog finishing margins were modestly positive the first week of December, marking the 11th consecutive week of profitability. Packer margins remain historically high.