Latest News From Greg Henderson

Two new economic analyses of the U.S. cattle markets suggest Congress “must do more” to implement reforms, says R-CALF USA. University economists note neither study has passed peer-review.

Jury deadlocks over price-fixing, bid-rigging allegations by poultry executives. Prosecutors suggest a third trial but the U.S. District judge wants a explanation from the head of the DOJ’s Antitrust Division first.

Monday’s reveal of the Senate’s updated cattle market reform bill generated some strong opinions from a cross-section of industry stakeholders, but no consensus.

Four U.S. Senators announced they have introduced a revised Cattle Price Discovery and Transparency Act and will push for a hearing on the bill by the Senate Agriculture Committee in the coming weeks.

Fed cattle trades began the week at steady before finding higher bids late week. Cattle on feed numbers remain high as USDA reported a 9% increase in February placements over last year.

U.S. and Japanese officials announced an agreement allowing American producers to meet Japan’s growing demand for U.S. beef while lowering the risk of Japan imposing higher tariffs in the future.

Sustainable Beef has taken another step towards making a new $325 million beef processing facility in North Platte, Neb., a reality.

Selected as Grand Champion Jr. Market Steer from a field of 1,750, Vanilla Ice sold for a record $1 million at the 90th Anniversary of the Houston Livestock Show and Rodeo.

A controversial animal rights activist and former member of the Colorado State Board of Veterinary medicine has been charged with animal cruelty. The blatant hypocrisy is stunning.

Cash fed cattle prices traded mostly steady in what most describe as a disappointing market. Cattle feeders began the week asking higher prices but cash bids of $138 bought most cattle in the South.

A foreign leader addressing a joint session of Congress this week was a rarity. Not to be outdone, the partisan and often cantankerous members of the U.S. Senate passed legislation unanimously on a voice vote!

A federal appeals court has affirmed the dismissal of a lawsuit brought by cattle ranchers over the alleged mislabeling of beef as a “Product of the U.S.A.”

Maps show the severity of drought in eight Central Plains states and where they began 2022 in beef cow numbers. These eight states represent 52% of America's beef cows, and accounted for 67% of last year's herd culling.

More than 61% of the contiguous US is in some classification of drought. That’s the largest percentage of drought classification since 2012, the year the continental US saw an all-time record of 65% during September.

A U.S. Department of Agriculture employee was paid to allow tick infested and diseased cattle to enter the country, according to an indictment filed in a Laredo federal court last week.

The 2022 Power of Meat report found nearly all households purchase meat, even as more meat consumers shopped online. Nearly half of those shoppers (46%) purchase meat online regularly.

The ongoing drought in south Texas has lowered the water level at the Rio Grande River making it easier for wildlife carrying cattle fever ticks to enter the U.S.

Wheat and corn prices continued to find fuel this week from the ongoing conflict in Ukraine, but cattle markets were in retreat. The Russia/Ukraine conflict will continue to play a role in markets moving forward.

Modest increases in cash prices for cattle and hogs helped boost average feeding profit margins the final week of February, while margins for beef and pork packers declined.

Nobody alive today has seen weather this dry in Northern California during January and February, normally the two wettest months of the year. That’s a dramatic turnaround from record snowfall in December.

Even in regions showing gains in beef cow inventories, price increases have been slow to develop this year. Overall, ranchers continue culling the breeding herd at a significant rate through the first quarter of 2022.

Friday's Cattle on Feed was not expected to create any additional near-term market volatility. Yet, a closer analysis finds heavy front-end numbers along with signals the feeder cattle supply is tightening.

Cash cattle saw average prices move slightly higher for the week while CME futures tumbled lower. USDA’s reported cattle on feed February 1 inventory was the highest for that month in the series going back to 1996.

Cattle markets were hit hard Thursday on news of Russia's invasion of Ukraine. Higher grain prices drove feeder cattle prices as much as $5 lower on CME feeder cattle futures and more than $2 lower for CME Live cattle.

Beyond Meat is set to release quarterly financial reports likely showing growing sales and increasing losses. As one analyst put it, “it seems the more faux meat they sell the more faux money they make.”

Cash fed cattle prices traded higher for a fourth-consecutive week, reaching the highest average price since August of 2015.

Federal protections for gray wolves must be restored under the Endangered Species Act across much of the U.S., according to a federal judge.

Colorado ranchers say they are “under attack” by their governor after hiring a director of the Bureau of Animal Protection who has ties to Mercy for Animals and leads a project that promotes plant-based food choices.

U.S. beef exports exceeded $10 billion in sales, shattering the previous record by 27%. Pork exports finished slightly below the record volume reached in 2020 but set a new value record, topping $8 billion.

Plant-based chicken pluckers are not satisfied with a 1% market share, but they have the difficult task of convincing folks a concoction of pea protein, soy protein, flour, oils and sodium tastes just like chicken.

America’s cattle herd shrank by 2% last year, according to the annual Cattle report issued by USDA’s National Agricultural Statistics Service (NASS). Drought also forced larger inventory reductions in several states.

January nears its end with the fed cattle market still searching for the legs to carry it higher. Early month prices have proven to be a tease and the short-term outlook doesn't appear bullish.

South Carolina’s Republican congressional delegation asked the Department of Fish and Wildlife to authorize a depredation order that allows black vultures to be killed under certain circumstances.

Ellen Kessler proved a lightning rod on Colorado’s Board of Veterinary Medicine from the moment she was appointed by Gov. Polis in 2020. Her service came to an end last week after an "unprofessional" social media post.

A Missouri judge has ruled Missouri Prime Beef Packers must process cattle supplied by Niman Ranch in accordance with a previously executed agreement between the companies.

Price discovery in today’s fed cattle market “appears to be functioning effectively in even the thinnest regional fed cattle markets,” according to an analysis by University of Arkansas agricultural economists.

The Biden administration and some cattle groups blame meat industry concentration for producers getting a smaller share of consumer dollars for beef than they did decades ago. The Meat Institute disputes such claims.

The developer of a new beef processing plant targeted for western Iowa says the project expects to receive funding from the Biden Administration’s recently announced Meat and Poultry Supply Chain Action Plan.

Labor issues continue to plague the packing industry with this week’s slaughter volume lighter than anticipated. Worker absenteeism due to COVID has hindered packers’ ability to run full throttle and prices suffered.

Developers of Cattlemen's Heritage Beef Company are seeking investors for a proposed $450-million beef packing facility to be built in western Iowa south of the Omaha/Council Bluffs area.

A federal judge has again delayed the sentencing of the former owner of Easterday Farms and Easterday Ranches following his conviction for wire fraud the resulted of losses of $244 million.

Despite rising inflation and supply chain disruptions, American consumers continued to purchase meat products at an astounding rate, led by ground beef sales in 2021 that reached $11.3 billion.

U.S. beef and pork exports continued on record pace through November, with beef exports on pace to exceed $10 billion for the first time. Pork exports are on pace to exceed last year's $7.7 billion record.

Momentum continues to build for cattle feeders as closeouts saw average profits increasing during the final week of 2021. Farrow-to-finish hog operations continue with negative profit margins.

The Biden Administration’s Action Plan to invest $1 Billion to expand competition in the U.S. meat packing industry and strengthen enforcement of antitrust regulations drew mixed reactions from cattlemen.

The Biden Administration’s $1 billion Action Plan unveiled Monday to aid farmers, ranchers and consumers would do none of the above, according to the North American Meat Institute.

The Biden Administration unveiled a new, four-pronged action plan to aid independent meat processors, strengthen the Packers & Stockyards Act, and issue new "Product of USA" labeling rules.

Organizers have cancelled the annual Lawry’s Beef Bowl ahead of Saturday's Rose Bowl for the second year in a row due to concerns over the rising cases and the emergence of the Omicron COVID variant.

Cattle markets have improved significantly in the final weeks of 2021, with market analysts projecting those positive trends to continue in 2022.

Canadian officials reported the first case of BSE in six years. South Korea has suspended all beef imports from Canada as a precaution until it can gather more information about the case.