Negotiated cash fed cattle traded $2 higher in the South during the holiday-shortened week. Futures markets appear supportive and asking prices will be higher in the days before New Year's.
The Meat Institute has joined with the United Food and Commercial Workers Union in asking governors from all 50 states to prioritize COVID-19 vaccinations for frontline meat and poultry workers.
Industry-wide average cattle feeding closeouts were printed in red ink last week for the first time since late September, while packers saw another significant decline to their margins.
Tyson Foods notified the Securities and Exchange Commission on Monday it was filing corrected financial results after an internal review found "misappropriation of company funds" by one of its beef suppliers.
Fed cattle treaded steady in the South to weaker in the North, with wholesale beef prices posting additional declines for the week. Friday's cattle on feed report was as advertised and will be viewed as neutral.
Central Idaho's Y-3 Ranch consists of 2,375-deeded acres supporting 350 breeding cows annually. The ranch is insulated by large, private ranches and undeveloped BLM and state lands, offering seclusion and privacy.
On a percentage basis, beef packer margins declined significantly last week. It's all relative, of course, since the starting point from the previous week was stunning.
