Beef packer profit margins fell to their lowest level in nearly two years last week while cattle feeding margins exceeded triple digits for the second consecutive week.
Higher fed cattle prices ahead of the Thanksgiving holiday helped lift cattle feeding margins modestly.
Cattle feeding margins improved modestly on higher cash prices last week. Packer margins declined slightly.
Average cattle and hog finishing margins are both positive for the third consecutive week, according to calculations in the Sterling Marketing Profit Tracker.
Cattle feeding losses increased the week ending April 11, as cash prices fell $6 per cwt. on soft packer demand for market-ready cattle.
Cattle feeding margins improved $43 per head last week as cash prices gained nearly $2 per cwt.
Cattle feeders saw closeouts with an average profit of $58 per head last week, down modestly from the week before.
Feedlot closeouts averaged a profit of $22 per head last week, while packer margins remain above $200.