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Cattle feeding margins have slowly improved over the past few weeks, but average closeouts continue to show losses in excess of $100 per head.

Cattle and hogs prices both moved higher last week and both enterprises posted profits on closeouts for the first time in several months.

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.

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 remain positive for the sixth consecutive week, but cash prices for both declined modesty last week and margins eroded.

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.

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.

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 finishing margins were modestly positive the first week of December, marking the 11th consecutive week of profitability. Packer margins remain historically high.

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.