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Easter week produced a $3 per cwt. decline in fed cattle prices and a $73 erosion in cattle feeding margins.

Cattle feeding margins gained only modestly, despite the fact feeder cattle factored into closeouts were $40 per head less than the previous week.

Cattle feeders generally expected margins to be much better by now. An anticipated spring rally that could have erased a lot of red ink has failed to materialize, leaving feedyard closeouts stuck in neutral with near $200 losses.

Cash fed cattle prices retreated $7.77 per cwt. last week. As a result, closeouts added another $75 of red ink.

Cattle feeding profits declined $20vper head last week, yet closeouts remained $11 in the black.

Cattle feeding margins eroded $62 per head last week, falling $35 into negative territory.

The dog days of summer are here for cattle producers as red ink continues seeping into feedlot ledgers.

Last week’s $2 per cwt cash cattle rally lifted feedyard margins to breakeven.

Last week’s $1 per cwt retreat in cash cattle prices took feedyard margins only modestly lower.

Last week’s $4-plus rally in cash fed cattle prices cut average feedyard losses in half, leaving the red ink totaling $90 on every animal shipped.