According to reporting by Drovers CattleNetwork, feedyard managers are watching profit margins slowly shrink as the market settles into a seasonal summer slide. Average feeding margins registered $242 per head last week, a tidy profit any day, but $43 per head lower than the previous week, and a whopping $250 per head lower than a month ago. Primary culprit in declining profits is retreating cash prices, last week down to $118.63 per cwt., and $2 to $3 lower than the previous week. Feedyards were profitable on a cash basis for the 31st consecutive week. Read more…