Tyson Foods announced a one-time assistance payments to cattle feeders “in an effort to demonstrate our commitment and support of our valued cattle suppliers.”
Significantly reduced slaughter levels brought the full weight of the COVID-19 crisis to bear on cattle markets this week as cash cattle prices declined and boxed beef prices spiked to record highs.
While any tally of cattle waiting on shackle space is – at best – an estimate, an analysis of Cattle on Feed and slaughter data suggests estimates of 1 million cattle backlogged may be overstated by as much as 50%.
Two of America’s largest beef packing companies have announced plant closings due to COVID-19. One in effect until April 20 and one until April 24. The plants have a combined harvest capacity of 6,500 cattle per day.
In testimony before the House Ag Committee, the Meat Institute said the current labor shortage is a significant factor driving U.S. food prices higher.
Cow and bull slaughter for 2021 continues outpacing last year’s totals, and cow processing plants are operating at higher capacity utilization levels than fed cattle plants.
Cash fed cattle prices finally broke out of a weeks-long rut, trading $2 to $4 higher in all regions. This week saw the highest prices of the year and the highest average since 2019.
Sustainable Beef LLC, the Nebraska firm that announced plans to build a 1,500-head per day beef slaughter facility in North Platte, will seek $21.5 million in tax increment financing (TIF) from the city.
APHIS announced it has withdrawn its plan to phase-in mandatory RFID tags for cattle and bison in response to executive orders calling for “transparency.”
An attempted robbery at a rural Alberta property resulted in more legal woes for a rancher than for the thieves, and the case has become a flashpoint in the debate about rural landowners’ rights to defend their property.
