Cattle feeders recorded their seventh consecutive week with positive closeouts, maintaining profits north of $150 per head for the week ended Jan. 6.
Feedlot closeouts continue ending on positive notes.
Cattle feeding losses averaged $83 per head last week, while packers recorded $168 per head profits, according to the Sterling Beef Profit Tracker.
Steady to $1 higher cash fed cattle prices upped cattle feeding margins $20 per head to $194, according to the Sterling Beef Profit Tracker.
For the first time since December, 2017, cattle feeding margins have exceeded packer margins in the Sterling Beef Profit Tracker.
Cattle feeding profits more than doubled last week, a bounce due to a $3 rally in cash fed cattle prices.
Cash cattle prices dipped nearly 50 cents per cwt.