Feedlot margins remain deeply red, while Choice steers sold about $3 lower than a week ago and feeder steer prices remain at relatively strong levels.

That's the outlook from our latest Sterling Beef Profit Tracker for the week ending June 20.

Feed costs on cattle entering the feedlot continued to drift downward from where they were one year ago, yet breakeven price per head is almost the same as one week ago and is several dollars higher than one year ago.

Sterling's cow-calf margin continues to suggest a per-cow return over direct costs of nearly $660 for this year.

Here are this week's statistics: