Cattle feeding margins inched lower last week with rising costs. Packer margins improved but remain in triple digits as market-ready supplies remain tight. Pork producers turn a profit for the first time in 14 months.
Meat and poultry industry trade groups were quick to criticize USDA’s announcement of changes to the Packers and Stockyards Act claiming the changes add unnecessary regulations and costs.
After burning for more than six days, the Smokehouse Creek Fire in the Texas Panhandle and western Oklahoma was only 15% contained Sunday morning. Drifting sand now poses a threat to rural roads.
While the Smokehouse Creek Fire rapidly became the state’s largest in history, four other wildfires are burning in the Texas and Oklahoma Panhandle area. (Additional images contained in story.)
Cattle feeding margins improved significantly the past month, crossing into positive territory last week. Beef packers continue to struggle with tight supplies. Pork producers reach breakeven.
Devastating wildfires are burning in the Texas and Oklahoma Panhandle region and the Smokehouse Creek Fire has already become the second largest in Texas history, consuming at least three-quarters of a million acres.
Cash cattle posted solid gains this week as futures prices closed the week with four-month highs. Friday’s Cattle on Feed report met expectations with the exception of placements, which were higher than anticipated.
America’s cattlemen continue to resist any traceability policy that is not strictly voluntary. But how long will stakeholders up the chain continue to give beef a pass?
