Beef packer margins swung back into positive territory at $114/head last week, improving $164 from the prior week as the Choice cutout strengthened while fed cattle prices declined. The cutout rose nearly $8/cwt to $377/cwt, while fed cattle prices fell to $225/cwt, producing the strongest packer margins since early spring. The move reflects a sharp late-summer improvement in the beef spread after months of heavy cattle-cost pressure. Feedlot placement margins improved ...