Stocker and feeder cattle sold higher at auctions last week, but pressure on prices may develop as a result of the the WASDE report which projects smaller corn and soybean acres and higher grains prices.
Cattle and hog feeding operations saw their margins remain modestly profitable last week with little movement in cash prices. Both cattle and hog feeding margins are higher than last year at the same time.
The Choice beef cutout price has rallied nearly $30 in November while cash fed cattle prices have gained just $5. As a result, packer margins have increased while feeding margins struggle to remain above water.