Feedlot margins take a steep hit
Feedlot margins took a $22 hit last week, finishing at $280.55 for the week ending on July 19, according to the Sterling Beef Profit Tracker’s latest report. While the hit may seem steep, feedlot margins are still well over $80 from this time a month ago when feeders were bringing $194.24 per head and losing $123.94 a year ago.
Fed cattle prices are up to $156.26 this week, slightly increasing $0.24 per hundredweight from the previous week’s $1.73 drop. Compared to the $119.00 market price a year ago, fed cattle are bringing more than $37 per hundredweight more. After rallying to $217.32 in the previous week, feeder steers have dropped to $213.46 per hundredweight. The ending price is more than $6 per hundredweight higher than a month ago and $66 more than this time last year. Fed cattle saw a breakeven price of $160.65, down from the $164.37 price in the previous week.
Packer margins saw more modest gains last week, hitting $67.25 per head, compared to $52.35 in the previous week. Beef cutout value remained consistent to the previous week, with the $248.57 price just up a few cents from the previous week, but earning more than the $236.46 market price last month and the $188.25 price this time a year ago.
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Monday Market Sentiment: $156.69
Last Week’s Trade: $156.04
This Week’s Winner:
Steve Landgraf, Lakin Feedyard
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