Packer margins went further into the red as the cost of cattle that were slaughtered and processed the week ending March 29 hit a record high $213.18/cwt against a record high composite beef cutout value of $330.77/cwt.
At the same time, feeding margins were down only marginally from the prior week as breakevens for cattle on current show lists hover in the low $170s. This attributed to feeder cattle prices ($245/cwt) when those cattle were placed on feed.
Feed costs for those cattle were estimated at $388 for the feeding period compared to $444 for cattle placed last week.
View the full Sterling Beef Profit Tracker for the week ending March 29.
The Beef and Pork Profit Trackers are calculated by Sterling Marketing, Vale, Ore.
(Note: The Sterling Beef Profit Tracker calculates an average beef cutout value for the week in its estimates for feedyard and packer margins. Other prices in the weekly Profit Tracker also are calculated weekly averages. Feedyard margins are calculated on a cash basis only with no adjustment for risk management practices. The Beef and Pork Profit Trackers are intended only as a benchmark for the average cash costs of feeding cattle and hogs. Sterling Marketing is a private, independent beef and pork consulting firm not associated with any packing company or livestock feeding enterprise.)
