Cattle markets were hit hard Thursday on news of Russia’s invasion of Ukraine. Higher grain prices drove feeder cattle prices as much as $5 lower on CME feeder cattle futures and more than $2 lower for CME Live cattle.
Beyond Meat is set to release quarterly financial reports likely showing growing sales and increasing losses. As one analyst put it, “it seems the more faux meat they sell the more faux money they make.”
U.S. beef exports exceeded $10 billion in sales, shattering the previous record by 27%. Pork exports finished slightly below the record volume reached in 2020 but set a new value record, topping $8 billion.
Colorado ranchers say they are “under attack” by their governor after hiring a director of the Bureau of Animal Protection who has ties to Mercy for Animals and leads a project that promotes plant-based food choices.
Plant-based chicken pluckers are not satisfied with a 1% market share, but they have the difficult task of convincing folks a concoction of pea protein, soy protein, flour, oils and sodium tastes just like chicken.
America’s cattle herd shrank by 2% last year, according to the annual Cattle report issued by USDA’s National Agricultural Statistics Service (NASS). Drought also forced larger inventory reductions in several states.
January nears its end with the fed cattle market still searching for the legs to carry it higher. Early month prices have proven to be a tease and the short-term outlook doesn’t appear bullish.
South Carolina’s Republican congressional delegation asked the Department of Fish and Wildlife to authorize a depredation order that allows black vultures to be killed under certain circumstances.
