Indicators of beef's economy recorded improvement again last month. Although seven out of eight arrows point up, gains are considered modest. Cattle prices moved higher while feed costs remain relatively low. Cattle feeding margins are in the black, and demand remains strong for stocker and feeder cattle. Of beef's eight economic indicators measured in Drovers' analysis, the only sideways arrow belongs to competitive meats. Declining pork production is offset by increased broiler production, while prices for the two meats remain relatively steady. "Performance and margins" is a category to watch as cost of gain is creeping higher, but good feedyard margins keeps the arrow pointing up. Prices should decline seasonally, which will turn some arrows and slow the improvement.