Cattle feeding margins improved modestly last week amid steady cash cattle prices. Packer margins declined more than $35 per head, according to the Sterling Beef Profit Tracker. Packers are currently losing more than $50 on each animal processed. The Sterling Beef Profit Quotient gained 19 points for the week, according to estimates developed by Sterling Marketing Inc., Vale, Ore.

Cash fed cattle traded at $124 to $124.50 last week, but Choice boxed beef cut prices declined $5.22 per hundredweight for the week. Beef demand was called slow despite coming off a small holiday production week. Feeder cattle markets continued strong, with prices $3 to $8 higher.