Cattle feeding remains slightly better than breakeven while packers turn a tidy profit.
Cash fed cattle prices dipped just $1 per cwt., but cattle feeding profit margins declined $111 per head last week to $57.
Both feedyards and packers remained solidly profitable last week.
Cattle feeding profit margins retreat further with a weaker cash market and limited packer interest.
Feedyard closeouts recorded solid, yet declining profits on cattle marketed last week, according to the Sterling Beef Profit Tracker.
last week's $2 per cwt. rally in fed cattle prices helped boost feedyard closeouts $41 per head to average profits of $131 per head.
For the first time since December, 2017, cattle feeding margins have exceeded packer margins in the Sterling Beef Profit Tracker.
The Sterling Beef Profit Tracker reports average cattle feeding closeouts were in the black last week, but with little room to spare.