Profitability for cattle producers hanging on to their herds continues to grow as cash cattle climbed to its highest point in seven years during the week of Oct 22. At $150.53 per cwt, average closeouts were $158 per head, according to the Sterling Beef Profit Tracker.

Average cattle producer breakeven amounts for cattle placed on feed last week was $151 per cwt, up noticeably from $139 last week. Although the average cost of feeding a steer to finish weight was 12% higher for cattle the previous week and is projected to be 17% higher this week.

Read more on cattle market profit tracking here.