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Higher grain prices and lower cash livestock prices contributed to a decline in feeding margins last week, leaving closeouts showing red ink for both cattle and hogs.

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 finishing margins remain positive for the sixth consecutive week, but cash prices for both declined modesty last week and margins eroded.

Average cattle and hog finishing margins are both positive for the third consecutive week, according to calculations in the Sterling Marketing Profit Tracker.

Cattle and hog finishing margins are both positive for the fourth consecutive week despite the fact cash prices for cattle and hogs were slightly lower last week.

Both cattle feeding and hog finishing operations found modest profits for the fifth consecutive week calculated on a cash basis, according to the Sterling Profit Tracker.

Cattle and hog finishing margins are both modestly positive for the seventh consecutive week, though hog margins saw a slight decline with lower lean carcass prices.

Cattle feeders saw modest profits for the 10th consecutive week, a headline-worthy observation in normal times. The beef complex is not operating in normal times.

Cattle and hog feeding operations saw their margins remain modestly profitable last week with little movement in cash prices. Both cattle and hog feeding margins are higher than last year at the same time.