Cattle and hog finishing margins were headed in opposite directions last week, with lean hog prices enjoying a three-week rally while cattle prices were stuck in neutral for a second week.

Market hogs found twice the profit margin of fed steers last week due to a rally that has added nearly $22 per cwt. to lean hog carcass prices over the past month, while cash cattle prices have been stuck in neutral.

Cattle feeding margins improved $60 per head the week ending Feb. 12 and hog margins reported profits for the second consecutive week as lean hog prices rallied.

Cattle feeding margins were little changed from the previous week with modest profits. Hog feeding margins were boosted for a third week with another advance in lean carcass prices.

Profit margins for cattle and hogs continue trending in opposite directions as feedyard closeouts slipped below breakeven and hog margins saw another boost from higher prices.

The extended rally in lean hog carcass prices continues and farrow-to-finish hog operations are profitable for the 12th consecutive month. Cattle feeders saw prices slip off of recent highs.