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Based on cash sales of $108.77, cattle closeouts lost an average of $90 per head the week ending March 15.

Sharply higher beef cutout values produced windfall profits for beef packers last week while cattle feeders saw closeouts with average losses about steady, according to the Sterling Beef Profit Tracker.

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.

Cattle and hog feeding operations saw their margins remain modestly profitable last week with little movement in cash prices. Both cattle and hog feeding margins are higher than last year at the same time.

Cattle and hog finishing margins are both modestly positive for the seventh consecutive week, though hog margins saw a slight decline with lower lean carcass prices.

Cattle feeders saw modest profits for the 10th consecutive week, a headline-worthy observation in normal times. The beef complex is not operating in normal times.

Cattle and hog finishing margins were modestly positive the first week of December, marking the 11th consecutive week of profitability. Packer margins remain historically high.

Cattle and hog finishing margins remain positive for the sixth consecutive week, but cash prices for both declined modesty last week and margins eroded.

Both cattle feeding and hog finishing operations found modest profits for the fifth consecutive week calculated on a cash basis, according to the Sterling Profit Tracker.