Beef packer leverage is evident with cash cattle prices $7 per cwt. lower than the same week a year ago and beef cutout prices $23 per cwt. higher. Pork producers are gaining leverage with a $5 per cwt. price rally.

Cattle and hog finishing margins were modestly positive the first week of December, marking the 11th consecutive week of profitability. Packer margins remain historically high.

Cattle and hog feeding both saw solid average profits for the week ending April 2, boosted by higher average farmgate prices. Cattle were positive for the second week, while positive hog margins entered a third month.

Cattle and hog feeding operations are in the midst of their most profitable time since before the pandemic began. Cattle margins nearly doubled last week and hog margins were positive for the 10th consecutive week.

Cash prices for both cattle and hogs advanced last week leaving feeding margins for both species solidly in the black. Hog margins were positive for the eighth consecutive week and cattle climbed out of the red.

Cattle and hog feeding operations are experiencing the highest market prices since before the pandemic began more than a year ago. Hog margins were positive for the 11th consecutive week.