The world's first 3-D bioprinted ribeye steak was unveiled this week. Just like plant-based products already in grocery stores, cultured meats will rely on misinformation about beef to overcome the "yuck" factor.
Claiming Easterday Ranches conducted a “fire sale” of one of its feedlots just days before filing for bankruptcy, Tyson Foods asks a U.S. Bankruptcy Court to appoint a trustee to take control of the Easterday estate.
Beef packer leverage is evident with cash cattle prices $7 per cwt. lower than the same week a year ago and beef cutout prices $23 per cwt. higher. Pork producers are gaining leverage with a $5 per cwt. price rally.
U.S. beef exports finished 2020 down 5% in both volume and value, but finished the year on an upswing with fourth quarter volume up 4.4% from 2019 and posting one of the best months on record in December.
Cash fed cattle prices ended last week $10 per cwt. lower than last year while the beef cutout closed $16 higher than the same week a year ago. The result? Packer margins $314 per head more than last year.
Easterday Ranches Inc. filed for Chapter 11 bankruptcy protection on Monday following a civil lawsuit filed last week by Tyson Foods, Inc. alleging the company defrauded Tyson of more than $225 million.