Indicators measuring America’s beef economy increased slightly during August, with gains in production costs and key cattle prices leading the way. Production costs improved slightly after a significant improvement in July. Cash corn prices rebounded from July’s 18 percent decline, but the steer-corn ratio still improved as fed-cattle prices increased. Key cattle prices saw solid gains. Fed-cattle prices gained $1.50 per hundredweight, while yearling feeder steers posted average price gains of $5.20 per hundredweight and calf prices increased $2. Cattle feeders saw closeout margins decline significantly, with average per head losses estimated at about $36 per head during August. Production indicators earned an upwards arrow as the number of cattle on feed declined along with placements. Packer margins declined more than $7 per head during August, with average profits per head estimated at about $8.45 for the month. Prices and profit margins, however, are expected to see significant pressure during September and the months ahead.