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.
Tom Vilsack, during Senate confirmation hearings Tuesday, said he was willing to consider reimplementation of country-of-origin labeling (COOL) regulations for meat products.
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.
USDA’s annual Cattle Inventory report released Friday estimated the total U.S. herd on Jan. 1, 2021, at 93.6 million head, about 200,000 head fewer than in 2020.
While Tyson's lawyers were filing a lawsuit on Monday against one of the packer’s largest cattle suppliers, the ink was still drying on the sale of one of that supplier’s feedlots to one of Tyson’s competitors.
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.
