Feedlot margins continue sharp upward momentum

US cattle feeding margins continued their sharp upward momentum as breakeven prices for current closeouts hover in the US$ 170 range against a negotiated cash steer price averaging US$/cwt 212 for the week ending March 22, according to The Sterling Marketing Beef Profit Tracker.

The margin estimate for the week was US$/hd 612 compared to US$/hd 43 a year ago. The current breakeven price in the US$/cwt 170 compares to 200 for currently placed cattle. Last week’s feeder cattle price averaged US$/cwt 287.33 compared to $240.39 for feeder steers when last week’s marketed cattle were placed on feed in August 2024.

Packer margins remain well in the red as fed cattle prices remain strong.