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Cattle feeding and packer profit margins both declined last week as cash cattle prices were modestly lower.

Cattle feeding and packer profit margins were mostly steady the week ending December 21, with cash prices for fed cattle slightly higher.

Feedyard margins climbed back into triple digits last week with a $1 to $2 price rally.

Packer margins advanced on softer cash cattle prices and gain in the beef cutout prices.

Packer margins have grown to exceptionally high levels in recent weeks, while feedyard profits have eroded.

Beef packers continued to maintain their leverage on cattle markets heading into the holiday-shortened first week of September.

Feedlot closeouts continue ending on positive notes.

Cattle feeders turned a profit for the eighth consecutive week.

Cattle feeders saw positive margins on closeouts for the ninth consecutive week.