Markets
The Choice beef cutout price has rallied nearly $30 in November while cash fed cattle prices have gained just $5. As a result, packer margins have increased while feeding margins struggle to remain above water.
Cattle markets entered November with solid gains across all sectors. Fed cattle rebounded with higher prices in all regions while feeder cattle jumped $2 to $7 per cwt.
A large winter storm is advancing across the central U.S. bringing cold temperatures and some much-needed moisture. Feedlots continued to build inventory during September leading to a record inventory for Oct. 1.
Profitability for both cow-calf and feedyards is projected to improve in 2021, Sterling Marketing president John Nalivka told AgriTalk host Chip Flory.
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.
A fall rally in cash fed cattle markets has added $5 to $6 per cwt. over the past three weeks. Feeder cattle remain in moderate demand, but drought conditions across much of the Great Plains is affecting cattle markets.
Large volumes of cattle traded in all regions at $2 higher prices ahead of Friday’s cattle on feed report which counted 4% more inventory than last September.
Agri Beef, a cattle feeding, farming and beef processing company in business since 1968, announced it plans to open a new beef packing facility in Jerome, Idaho.
USDA released Wednesday the long-awaited report on its investigation into cattle market disruptions following last year’s Tyson Foods packing plant fire and this spring’s impact from the coronavirus pandemic.
Here are some ways to help manage stress in cattle during the summer and how to help their caregivers manage their own stress to enable them to be successful.
One impact of the coronavirus pandemic on the beef industry has been an increase in the number of carcasses grading Prime, but the shuttering of high-end restaurants that sell Prime beef, however, softened demand.
Montana Senator John Tester and Iowa Senator Chuck Grassley claim American farmers and ranchers face “a grave crisis, and it could hurt every family who buys meat at the grocery store.”
Iowa Senator Chuck Grassley asks Ag Secretary Sonny Perdue to publicly release findings from USDA’s investigation into beef pricing margins following the fire at Tyson’s plant in Holcomb, Kansas.
Tyson’s cooperation in the DOJ investigation of price fixing and bid rigging in the broiler industry is part of a request for formal leniency under the agency’s Corporate Leniency Program.
This first full-week following the Memorial Day holiday delivers signals cattle markets may see a second wave of downward pressure, the after-shocks of the COVID-19 earthquake.
Missouri lawmakers told a hearing in Jefferson City last week they hope to form a working group to explore the idea of helping secure a beef harvest and processing facility in the state.
A Brazilian Superior Court ruled Tuesday Joesley and Wesley Batista can return to positions of management at J&F Holding, the parent company of JBS SA, the world’s largest meat packer.
Barring a major setback, it appears that America’s beef markets are moving past the worst of the COVID-19 disruptions that have caused upheaval in recent weeks.
“A lot of folks think we should mandate with a law—a federal LAW, mind you, because those always work out so well—that more feeders sell in the cash market. But tying feeders’ hands like this isn’t the answer.”
The President made a broad statement Tuesday about cattle imports, asking USDA Secretary Sonny Perdue to look into terminating bringing in cattle from other countries. However, a decision could come with consequences.
Industry analysts say there is a 1 million head backlog of cattle waiting for a harvest slot, and working through those heavy front-end supplies could take months.
Harvest numbers continue to improve as more plants ramp up leading to a steep decline for wholesale beef prices. Feeder cattle saw moderate demand and higher prices.
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The South saw another wide trading range last week as prices ranged from $95 to $115 per cwt. for cash fed cattle with just two packers active in the negotiated cash market.
Tyson Foods said on Wednesday it will discount prices on certain protein products the remainder of this week, and some beef items could be discounted 20% to 30%.
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Modeled after a set-aside program used in Canada after the BSE crisis in 2004, the Fed Cattle Set-Aside Program proposal would fund placing cattle on a maintenance diet for 75 days.
Light cash trade continued with a wide price range. Two of the major packers were active in the market, with one actively making an effort to support prices.
Early week fed cattle sales were steady at $95 to $100 per cwt., and $150 dressed. Friday, however, saw one major jump in and buy a few thousand cattle at $105, $5 higher than last week.