Indicators measuring America’s beef economy declined during January. Four of the eight indicator-arrows in Drovers’ index point higher, two arrows point lower and two arrows point sideways. That’s a decline from last month when six arrows pointed higher. Key cattle prices were mixed last month, with gains found in fed cattle but lower prices recorded for calves and yearlings. The industry’s greatest economic concern is negative margins in both the feedyard and packing sectors. Margins for both have improved in recent weeks, but both remain in negative territory. Cattle feeders saw a $30-per-head improvement in margins last month, yet they’re still $70 short of breakeven. Breakeven margins neared the $95-per-hundredweight level during January but should decline to the $90 level by March.