Profit margins for cattle and hogs continue trending in opposite directions as feedyard closeouts slipped below breakeven and hog margins saw another boost from higher prices.

Market hogs sold last week earned an average profit margins nearly four times that of fed steers. That’s mainly due to a rally that has added more than $20 per cwt. to lean hog carcass prices over the past month.

Cattle and hog finishing margins were headed in opposite directions last week, with lean hog prices enjoying a three-week rally while cattle prices were stuck in neutral for a second week.

Market hogs found twice the profit margin of fed steers last week due to a rally that has added nearly $22 per cwt. to lean hog carcass prices over the past month, while cash cattle prices have been stuck in neutral.

Cash prices for both cattle and hogs advanced last week leaving feeding margins for both species solidly in the black. Hog margins were positive for the eighth consecutive week and cattle climbed out of the red.

Cattle feeding margins improved $60 per head the week ending Feb. 12 and hog margins reported profits for the second consecutive week as lean hog prices rallied.