Brazil's J&F Investimentos, parent company of the world's largest meatpacker JBS pleaded guilty to violations of the U.S. Foreign Corruption Practices Act (FCPA) and agreed to pay $256 million in criminal fines.
The future of cattle economics from genetic selection to herd management, and marketing will be increasingly tied to the final product and continually searching for efficiencies across that entire process.
Packers aggressively sought inventory last week and cash fed cattle prices surged $2 per cwt., to instances of $3 higher for the week. Large trade volumes were reported in the North at $107 to $108 per cwt.
The U.S. Labor Department has cited Smithfield Foods for failing to protect employees from the coronavirus, making it the first major U.S. meatpacker to face a fine after outbreaks at slaughterhouses infected workers.