Even as last week’s prices were steady, it should be noted packers have been buying cattle for several weeks out, which is not behavior that would suggest packers feel that the market is going to be softer.

Brazilian beef exporters saw an 8% increase in 2020 to 2.02 million metric tons, according to Abrafrigo, the country’s beef association. China was the largest importer of Brazilian beef.

Distillers grains are unique in that the price of this byproduct of ethanol production is usually priced relative to the corn market. However, distillers grains prices have increased in line with protein markets.

Pilgrim’s Pride Corp., the nation’s second-largest U.S. chicken processor, said it has reached a settlement to pay $75 million to a group of poultry buyers in a price-fixing lawsuit.

A worker was recently killed in an accident at the Tyson Foods plant in Sherman, Texas.

U.S. beef trade is stabilizing as the ripple effects of the initial COVID-19 disruptions continue to fade. The latest beef trade data for November shows that monthly exports were up 13.2 percent year-over-year.