Feeding margins continue to shrink as cattle prices retreat.
Sharply lower cash cattle prices erased $100 per head from closeout profit margins last week and left cattle feeders re-evaluating ideas of a spring rally.
Cattle feeders saw closeouts with an average profit of $58 per head last week, down modestly from the week before.
USDA June 30 Report, Corn Acreage
For the first time since December, 2017, cattle feeding margins have exceeded packer margins in the Sterling Beef Profit Tracker.
Feeder cattle end higher and hogs go on a rally.
Whether you’re cattle feeder or packer, ledger sheets are full of red ink.
Feedyards saw closeouts improve dramatically last week after the cash cattle market posted its third consecutive week of higher prices.