Beef packers were forced to pay up to acquire inventory last week and the result was a boost to feedyard profits and increasing packer losses. Pork prices and margins saw little change.
A federal court in Brazil has ordered a rancher to pay climate compensation for damage he caused to the Amazon rainforest by illegal deforestation and ordered restoration.
Packer efforts to slow the harvest rate has limited impact on either cash cattle trade or wholesale beef values. Excessive heat warning looms across the Plains next week.
The summer slump has cut average industry cattle feeding margins by a third yet profits remain historically large. Pork margins also retreat from recent highs.
U.S. Attorney’s office accused defendant of devising a scheme to steal from Montana and Wyoming ranchers who were seeking to buy hay to feed their cattle during drought in 2021.
Cattle feeding margins remain near historic levels but the cost of replacements continue pushing breakevens to all-time highs. Pork producer profits hold above $50 per head.
