Feeder cattle sold high on good to moderate demand last week. CME live cattle traded lower following Friday’s cattle on feed report, while feeder futures were modestly higher.
The growing disparity between wholesale beef prices and live cattle prices is hurting both consumers and cattlemen, says Senator Mike Rounds, who asked members of Congress to sign a letter to the Department of Justice.
The impact of cattle market discrepancies are being felt by consumers and gaining the attention of lawmakers outside traditional farm-states. New reporting suggests USDA may be considering regulatory action.
A Missouri man accused of the murders of two Wisconsin brothers in 2019 now faces additional federal fraud charges relating to his business dealings with the brothers.
Argentina’s beef sector is in turmoil after the government announced a 30-day ban on beef exports in an unorthodox move to try to contain runaway inflation which is approaching 50% annually.
Lower grain prices last week helped boost prices for feeder cattle and calves at most auctions across the country. AMS reporters expect grain prices will continue to be a major factor in cattle prices going forward.
Cash fed cattle traded at modestly higher prices this week in light to moderate volumes. Wholesale beef prices continued pushing higher, and cattle futures prices fizzled with Thursday’s losses.
The U.S. Department of Justice has charged an Illinois woman and a Georgia man with running a Ponzi scheme that raised approximately $650 million from investors across the country.
The Climbing Arrow Ranch consisting of nearly 80,000 acres near Bozeman - and featured in a 1992 Robert Redford movie - was under contract within a week for its asking price after a bidding war.
