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Cash cattle prices held steady during the week ended August 2, but cattle feeding margins improved $12 per head.

Feedyard profit margins rebounded slightly after last week’s $2 rally in the cash fed cattle market.

Cash cattle prices were mostly steady last week, helping reduce cattle feeding losses by $46 per head. Packers maintain their leverage with profits at $275.

Cattle feeding profit margins retreat further with a weaker cash market and limited packer interest.

Average cattle feeding losses totaled $106 per head for the week ending June 21.

Leverage shifting from feedyards to packers as summer begins.

Feedyard closeouts improved modestly last week with a $1 increase in cash fed cattle prices. Packer margins increased on the extended rally to the beef cutout price.

Last week’s $1 increase in cash fed cattle prices did little for feedyard profits, but the $6.40 rally in wholesale beef prices added another $25 onto already large packer margins.

Both cattle and hog feeding enterprises continue showing modest losses while packers remain solidly profitable.

Average feedyard close-outs were printed in black ink last week for the first time in several months after a $3 per cwt. rally in cash cattle prices.