Cash fed cattle prices ended last week $10 per cwt. lower than last year while the beef cutout closed $16 higher than the same week a year ago. The result? Packer margins $314 per head more than last year.
Cattle feeding margins declined by $80 per head last week as cash prices slumped $1 to $2 per cwt.
Cattle feeding margins improved modestly on higher cash prices last week. Packer margins declined slightly.
Both feeding and packing profit margins exceeded $100 per head last week with a $1 rally in the cash fed cattle trade.
For the first time since December, 2017, cattle feeding margins have exceeded packer margins in the Sterling Beef Profit Tracker.
Cattle feeding and packer profit margins were mostly steady the week ending December 21, with cash prices for fed cattle slightly higher.
Cattle feeding and packer profit margins both declined last week as cash cattle prices were modestly lower.