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Another miserable week left many in the cattle feeding business on the brink of financial ruin.

The crisis continues for America’s cattle feeders.

Cattle feeding margins gained only modestly, despite the fact feeder cattle factored into closeouts were $40 per head less than the previous week.

Cattle feeders generally expected margins to be much better by now. An anticipated spring rally that could have erased a lot of red ink has failed to materialize, leaving feedyard closeouts stuck in neutral with near $200 losses.

It’s the best signal cattle feeders have seen in many months.

For the first time in over a year, average cattle feeding losses are out of triple digits, according to the Sterling Beef Profit Tracker.

The march toward break even for cattle feeders stumbled last week as average losses increased $36 per head, leaving closeouts $113 in the red, according to the Sterling Beef Profit Tracker.

A $6-plus per cwt. gain in cash cattle prices produced a 20% improvement in feeding margins.

Cattle feeding margins improved by 50% over the past two weeks, and by 38% during the past week.

Last week’s $2 per cwt. rally in cash fed cattle prices helped feedyard closeouts improve nearly $100 per head.