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Cattle feeders saw average profits of more than $300 per head last week while pork producers found average losses of about $13 per head.
Cattle feeders experience largest average profits in seven years as packer margins dip into the red.
Profit margins for cattle feeders and packers continue pacing in opposite directions as shrinking supplies of market-ready cattle drive negotiated cash prices higher.
Wholesale beef prices continue to support packer margins even as negotiated cash cattle trade well-above the five-year average. Pork producers enjoy a market rally that has lifted margins out of the red.
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Erik Lichtenberg, University of Maryland professor, says Congress could reorient farm bill conservation funds for climate change, but it could cut into their support.