Although packer margins remain in negative territory, they improved significantly last week, with Sterling Marketing estimating margins at –US$ 44.53 per head, compared to –US$ 170.25 the previous week.
The Comprehensive Beef Cutout averaged US$/cwt 377.86 for the week, slightly above the US$/cwt 376.26 reported a week earlier. The weekly average for 5-Area Direct Steers was US$/cwt 228.42, US$/cwt 2.00 lower than the prior week.
Sterling’s estimate for feedlot margins was US$ 413.00 per head. Last week’s breakeven level was lower, reflecting the lower feeder cattle prices when those animals were placed in April, Drovers said.
