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A softer cash fed cattle market leaves cattlemen wondering if the spring highs are in for 2019.

Cargill is temporarily closing its High River, Alberta, beef plant due to an outbreak of COVID-19 at the facility. Meanwhile, the company says it has re-opened its processing facility in Hazleton, Pennsylvania.

Pork production hit a record high in December 2017, according to USDA-NASS. Beef ends the year 4% higher.

Cargill’s High River, Alta., beef harvest facility has slowed to one shift beginning this week to prioritize the health and safety of employees, reducing harvest to about 1,500 head per day.

Significantly reduced slaughter levels brought the full weight of the COVID-19 crisis to bear on cattle markets this week as cash cattle prices declined and boxed beef prices spiked to record highs.

Last week’s federally inspected cattle harvest brought a much brighter outlook to the supply chain, as it marked a two-week continuance of increased head counts in the country’s packing facilities.

There is a strong likelihood that feeder cattle prices will remain strong through the summer marketing period as is seasonally expected.

Tyson Foods Inc shares climbed to their highest level in more than a year on Monday as the No. 1 U.S. meat processor said low prices for livestock feed will help boost results again next year.

Chicago wheat rose for a third straight session on Friday, with the market set for its biggest weekly gain since early December on concerns over dry weather in parts of the U.S. Plains.

U.S. beef packers including Tyson Foods and Cargill are racking up historically high margins, thanks to slumping cattle prices amid a supply glut and as Americans turn to beef for their backyard summer barbecues.

Anecdotal evidence and supply observations suggest packers have recently had a negotiating advantage over feedlots. Packer margins continue to be wide and the supply of cattle on feed continues to be high.

If high beef demand, and steady to high margins continue throughout the summer, the packer will have incentive to continue large kills every week.

Packers remain in a highly profitable position, while many feedyard closeouts are showing red ink.

Cowboys and packers finished 2016 on a high note, maintaining per head profits north of $100 for the week ended Dec. 30.

Cattle and beef markets have decreased from April highs with uncertainty in a variety of factors weighing on markets the past month. 

The stakes are high for the U.S. poultry sector, which exports products worth more than $1 billion a year to Mexico.

Packer margins have grown to exceptionally high levels in recent weeks, while feedyard profits have eroded.

Cattle feeding margins are rapidly declining as cash cattle prices retreat from spring highs

To help support California food bank’s efforts to meet demand for protein during a difficult fire season, Cargill donated nearly 50,000 pounds of beef to local families in California.