Sharply lower cash cattle prices erased $100 per head from closeout profit margins last week and left cattle feeders re-evaluating ideas of a spring rally.
Sharply higher beef cutout values produced windfall profits for beef packers last week while cattle feeders saw closeouts with average losses about steady, according to the Sterling Beef Profit Tracker.
Cattle and hog finishing margins remain positive for the sixth consecutive week, but cash prices for both declined modesty last week and margins eroded.
Both cattle feeding and hog finishing operations found modest profits for the fifth consecutive week calculated on a cash basis, according to the Sterling Profit Tracker.
Cattle and hog finishing margins are both modestly positive for the seventh consecutive week, though hog margins saw a slight decline with lower lean carcass prices.
