Average beef packer losses increased by $120 per head to total $246.42 head, reported Sterling Marketing Beef Profit T
Trackerr.
The reason is higher costs to buy Choice steers..
Feedlot profits averaged $186.70 per head, down by about $7 per head from the prior week.
Pork packers also took a hit with their losses mounting from $1 to $7.60 per head.
Remember when former United States President Joe Biden agreed with farmers that the beef industry needed more packers to reduce their profit margins?
