Cash cattle traded mostly $3 higher on the week, despite light volumes and varied interest from packers. April live cattle futures posted a key bearish reversal, but closed lower for the week.
Market analysts see signs that feedyards have significantly reduced the COVID-19-induced backlog of cattle and are regaining currentness, also a key factor in the recent market rally.
Claiming losses of “more than $200 million” in connection with “200,000 cattle that did not exist,” Tyson asks for a court-appointed receiver to takeover Easterday Ranches in Washington state.
Wyoming native Ben Tyner disappeared two years ago from the British Columbia ranch he was managing. His family released a video asking the public for information.
A North Dakota state representative has introduced legislation that would make the state’s additional $1 beef checkoff voluntary. It would have no impact on the national Beef Checkoff.
Cattle feeders were left on the sidelines as every other cattle/beef market segment saw a price rally. Futures markets set new highs, but cash cattle have not reached $112 for seven months.
Cargill announced it will temporarily idle two of its protein processing facilities for scheduled maintenance. The idling of the facilities is unrelated to the COVID-19 pandemic.
Tyson Foods has agreed to pay a settlement of $221.5 million in the broiler chicken antitrust civil price-fixing lawsuit, according to filings Tuesday in federal court in Chicago.
A wildfire forced evacuations in southwest Nebraska last week as the entire state is now in a drought. The Nebraska Cattlemen have identified ways to help those impacted by the fire.
