Cattle feeders saw modest profits for the 10th consecutive week, a headline-worthy observation in normal times. The beef complex is not operating in normal times.
Cattle and hog feeding operations saw their margins remain modestly profitable last week with little movement in cash prices. Both cattle and hog feeding margins are higher than last year at the same time.
Average cattle and hog finishing margins are both positive for the third consecutive week, according to calculations in the Sterling Marketing Profit Tracker.
Cattle and hog finishing margins are both positive for the fourth consecutive week despite the fact cash prices for cattle and hogs were slightly lower last week.
Closeouts on cattle and hogs marketed last week remain modestly profitable for the sixth consecutive week, according to calculations by Sterling Marketing.
Average feedyard closeouts saw modest profits for cattle last week as cash prices improved. Hog finishing margins declined from near breakeven to a loss of $6 per head.
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.
