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The packer/feeder profit margins spread, historically large a month ago, has shrunk by 50% with gradually improving live cattle prices.
Improvements in feedlot margins were ever so slight last week due to a $1 gain in cash fed cattle prices. Pork producers saw a $5 per head improvement.
Beef packers saw their margins decline to the lowest level since before the Tyson packing plant fire August 9 as beef cutout prices declined and cash cattle prices increased.
After reaching historic levels earlier this fall, beef packer margins have experienced steady declines over the past month as cattle prices have increased.
AgDay’s Clinton Griffiths shares an update on this week’s top headlines.
Cattle and hog feeding margins declined significantly the week ending April 25, 2020, as harvest capacity at both beef and pork facilities was significantly reduced by the coronavirus pandemic.