Feeder margins bounced $12.12 higher last week, finishing the week ending November 16 at $84.63. One month ago, feeder margins were $88.68. Feeder margins have increased $178.21 from the negative $93.58 at this time last year, according to the Sterling Beef Profit Tracker. Feed costs fell $2.84 last week to $333.48, down from $491.58 at this time one year ago. Total cost was down $2 compared the previous week. Both fed cattle and feeder cattle were up last week, finishing the week at $132 per hundredweight on the fed cattle side and $165.99 for feedlot placements.
Beef packer margins retreated last week to negative $30.71 compared to negative $25.74 the previous week. At this time last month, packer margins were at negative $60.28 and negative $83.31 at this time one year ago, according to Sterling Market, Inc. The beef cutout value dropped below $200 last week to $198.75, a $1.79 drop compared to the previous week.
The farrow-to-finish margin finished the week ending November 15 at negative $21.37 compared to negative $12.63 the previous week, $0.67 one month ago and negative $24.77 at this time last year, according to the Sterling Pork Profit Tracker. Lean hogs were down to $82.57 last week compared to $83.25 the previous week, but leg hogs are up from $78.70 one year ago. Feed costs increased $3 to $88.85 last week, and total costs were up $3.03 last week to $145.34.
Packer margins finished the week ending November 15 at $15.32 compared to $15.55 the previous week and negative $3 one month ago. The pork cutout finished the week down $0.91 to $93.34.
The Sterling Beef Profit Tracker for the week ending November 16:
- Average feeder margins: $84.63 per head.
- Average beef packer margins: -$30.71 per head.
The Sterling Pork Profit Tracker for the week ending November 15:
- Average farrow-to-finish margins: -$21.37 per head.
- Average pork packer margins: $15.32 per head.