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Average cattle feeding margins increased last week as negotiated cash prices set new record highs.

As cash cattle prices have been on an upward trajectory in 2023, packer margins have correspondingly moved lower. Sterling Marketing’s weekly estimates are printing packer margins red for the first time in six years.

Cattle and hog harvest rates were lower last week with higher cash prices paid to farmers and feeders. Margins for both beef and pork packers are trending lower.

Cattle prices moved higher last week but cattle feeding margins remain modest. The supply-demand fundamentals are trending in favor of cattle feeders.

Rising production costs and steady to weaker cash prices trimmed cattle feeding margins to near breakeven levels. Pork producer margins remain solidly in the red.

Profit margins for cattle feeders increased as cash prices moved higher last week. Pork producers continue operating with negative margins.

Momentum continues to shift in cattle markets with strong feeding margins and tightening supplies. Pork producers continue to struggle with negative margins.

Cattle feeding margins declined last week after modest declines in cash cattle prices. Pork producer margins remain underwater.

The pendulum continues swinging toward cattle feeders as cash prices jumped $3 last week and left packers with their largest negative margins in nearly six years.

Cattle feeders have experienced their best month in years with prices reaching record levels. Hog producers, however, are struggling to keep margins out of the red.