Another steep decline in both fed cattle and feeder cattle was reported last week. Negotiated cash fed cattle sales were the second smallest since mandatory price reporting began in 2001.
The National Cattlemen’s Beef Association and Nebraska Senator Deb Fischer are asking President Donald Trump to investigate possible irregularities in the cattle markets over the past several weeks.
Due to the COVID-19 pandemic, the Kansas Department of Health and Environment asks ranchers to voluntarily reduce the number of acres they intend to burn in the Flint Hills this spring.
Unprecedented volatility in fed cattle markets during March produced a strong increase in negotiated cash sales from feedlots to packers the final two weeks of the month.
During a Facebook Live address to cattlemen Monday night, R-CALF CEO Bill Bullard outlined four actions his group proposes to “restore balance to our dysfunctional cattle markets.”
Texas congressman Mike Conaway told AgriTalk radio he believes an investigation into packer profits is likely, but encourages cattlemen and processors to continue working to feed Americans during the COVID-19 crisis.
Some American beef packing companies are adding to worker’s hourly pay and sick leave in response to the COVID-19 emergency. Some will earn an additional bonus for working all their shifts through May 3.
Panic meat buying emptied shelves and drove the Choice beef cutouts nearly $48 per cwt. higher. Cash fed cattle were higher, but not at a proportionate level.
