The cost of raising a steer to finish weight for the cattle market last week has increased by 25%. According to the Sterling Beef Profit Tracker, it is projected that those same costs will increase 31% for cattle placed on feed last week. For the last full week of August, cattle feeders saw average profits of $138/head or 15% higher than the same week the previous year.
While profit has risen, it’s still behind the price of feed cost increases. Estimated beef packer margins were down $126/head and 89% lower than the same week last year. For farrow-to-finish hogs, average profits were $75/head last week, down $10 from the week prior but up $28/head from last year. Pork packers, meanwhile, saw losses estimated at $51/head, $68 less than last year.
Read more on beef and pork feed costs and profit margins here.
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