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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.

Average feedyard closeouts saw modest profits for cattle last week as cash prices improved. Hog finishing margins declined from near breakeven to a loss of $6 per head.

Industry-wide average cattle feeding closeouts were printed in red ink last week for the first time since late September, while packers saw another significant decline to their margins.

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

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.

Average cattle feeding margins improved $20 per head last week, which beef packer margins declined 17%. Farrow-to-finish operations recorded per head losses for the fourth consecutive week.

Cattle and hog finishing profit margins were little changed from last week, with modest profits for cattle and losses for hogs. Beef packer margins declined again to their lowest mark since March.

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.