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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.

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.

Cash prices for both cattle and hogs advanced last week leaving feeding margins for both species solidly in the black. Hog margins were positive for the eighth consecutive week and cattle climbed out of the red.

Cattle and hog feeding both saw solid average profits for the week ending April 2, boosted by higher average farmgate prices. Cattle were positive for the second week, while positive hog margins entered a third month.

Cattle and hog feeding operations are in the midst of their most profitable time since before the pandemic began. Cattle margins nearly doubled last week and hog margins were positive for the 10th consecutive week.

Cattle and hog feeding operations are experiencing the highest market prices since before the pandemic began more than a year ago. Hog margins were positive for the 11th consecutive week.

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.

Cattle prices held steady last week, but packer margins continue climbing in the greatest squeeze on cattlemen in memory without the influence of a specific black swan event. Pork producers are experiencing euphoria.

Cattle feeders saw average profit margins exceed $200 per head last week while pork producers found losses of $44 per head, according to the Sterling Profit Trackers.