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Profit margins for cattle and hogs continue trending in opposite directions as feedyard closeouts slipped below breakeven and hog margins saw another boost from higher prices.

Cash prices for both cattle and hogs advanced last week leaving feeding margins for both species solidly in the black. Hog margins were positive for the eighth consecutive week and cattle climbed out of the red.

Cattle and hog feeding both saw solid average profits for the week ending April 2, boosted by higher average farmgate prices. Cattle were positive for the second week, while positive hog margins entered a third month.

Cattle and hog feeding operations are in the midst of their most profitable time since before the pandemic began. Cattle margins nearly doubled last week and hog margins were positive for the 10th consecutive week.

Cattle and hog feeding operations are experiencing the highest market prices since before the pandemic began more than a year ago. Hog margins were positive for the 11th consecutive week.

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.

On a percentage basis, beef packer margins declined significantly last week. It’s all relative, of course, since the starting point from the previous week was stunning.

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.