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.

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.

Beef packer margins increased another $45 per head for the week ending March 27 while a rally in cash prices pulled feedyard closeouts into the black.

The six-week long rally in fed cattle prices pulled feeding margins to within $20 of breakeven last week, while pork producer margins saw only slight change.

After a one-week reprieve, cattle feeding margins are back in the red. Pork producers saw a $7 per head improvement, but remain below breakeven.

Both cattle and hog finishing margins improved modestly last week, with cattle slightly above and hogs slightly below breakeven.