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Average cattle feeding losses totaled $106 per head for the week ending June 21.
As expected, beef packer margins jumped wildly higher the week ending Aug. 17, while cattle feeding margins slipped into the red.
Cattle feeding margins slipped further into the red last week on soft cash prices, while packer margins climbed to extreme heights.
Pork producer margins dropped $15 per head last week due to a $7.59 per cwt. decline in lean carcass prices.
Last week’s $2 rally in cash cattle prices helped narrow the spread between feedyard losses and packer profits.
Feedyard closeouts improved modestly last week with a $1 increase in cash fed cattle prices. Packer margins increased on the extended rally to the beef cutout price.