The pendulum continues to swing in cattlemen’s favor as cash prices rally $3 per cwt. Pork producers see improved profit margins with a $7 per cwt. rally.

The leverage shift continues to swing toward ranchers and feedyards as cattle supplies tighten and prices move higher.

Autumn’s fed cattle price rally has pushed average cattle feeding margins through the $200 per head barrier for the first time since well before the pandemic.

The highest cash fed cattle prices in seven years provided good profits for cattle sold last week but rising costs are pushing breakevens higher.

Profit margins for both cattle and hog finishing operations saw modest gains last week but also carry significantly higher feed costs than a year ago.

Market leverage continues to shift in the favor of cattle and hog finishers, a trend that has continuously chipped away at the historic packer margins of a year ago.