Markets
Divestment plan leads to ownership changes for 11 feedlots
The cattle herd in the U.S. is growing, and cash prices for fed and feeder cattle have exceeded expectations this fall as live and feeder cattle futures reached a new contract high to start November.
China’s largest online retailer to buy Montana beef
JBS Says It’s Done With Asset Sales as Earnings Boost Outlook
Prices were higher for all classes of cattle for the week ended Oct. 13, with cash fed cattle trading at $111 per cwt., $2 higher. Cattle sold on a dressed basis at $175 per cwt., $2 to $3 higher.
The 2017 cattle markets have been interesting, and since November 1, Elaine Kub, author of Mastering the Grain Markets, can describe them in one word: wild.
Cattle markets moved lower this week, spurred by futures markets that nosedived on Wednesday.
When you have a cough, you visit a doctor. When you want to know where your food comes from, you should ask farmers and ranchers.
In letter, EU demands improved checks on meat safety.
Post-scandal squeeze on finances sparks asset sales, cutbacks.
ABC and a South Dakota meat producer announced a settlement Wednesday in a $1.9 billion lawsuit against the American network over its reports on a lean, finely textured beef product that critics dubbed “pink slime.”
Wesley and Joesley Batista have combined debt of $790 million.
Jury selection started Wednesday in a more than $1 billion defamation case over ABC news reports on a South Dakota meat producer’s lean, finely textured beef product, which critics have dubbed “pink slime.” The trial in state court is scheduled to last until late July.
Amid large corruption and bribery scandal, JBS’ new chairman Tarek Farahat vows to restore trust in world’s largest protein company.
JBS owners Wesley and Joesley Batista said to have agreed to a plea bargain.
JBS’s founders are known for both big business and scandals.
Meat producers may lose as much as 10% of market share.
Zhang Lian has 270 tons of frozen Brazilian beef on a ship steaming toward Shanghai that he may not be able to get through customs when the vessel arrives next month.
Imports halted from 1 plant of BRF and 1 Seara facility.
Major importers ban Brazil shipments after food-safety scandal.
The so-called Weak Flesh probe launched Friday by Brazilian police into the alleged bribing of federal inspection agents to clear the sale and export adulterated meat has taken a toll on the world’s largest exporter of beef and chicken.
JBS and BRF launch massive media campaigns to stave off impact.
The Brazilian ag sector is trying to minimize damage both at home and in export markets after allegations of corruption are raised against meat inspectors and accusations of allowing rotten meat into the marketplace.
President Michel Temer called Brazil’s scandal over the sale of expired meat an embarrassment Tuesday as more countries suspended some meat imports from the South American nation.
EU seeking information from Brazil and may schedule meeting. While President Temer calls emergency meeting in Brasilia for diplomats.
Major importers have imposed restrictions on Brazilian meat.
So much for the winter blues. It’s been so balmy across part of the U.S. that Americans have been firing up their grills at a time that’s usually better suited to sipping hot cocoa.
“I hate the stuff,” says a butcher and author of a new cookbook dedicated to beef. He’s not alone.
A Cody, Wyo. company is seeking about $940,000 in financial help from the state so it can beef up sales of its jerky products.
A South Dakota judge has dismissed ABC anchor Diane Sawyer from a defamation lawsuit over the network’s reports on a beef product that critics dubbed “pink slime.”