The loss of the food service demand caused beef middle meats to drop to their lowest price in a decade. Conversely, the carcass cutout value has increased, driving a wider spread between live cattle and carcass values.
U.S. Ag Secretary Sonny Perdue sent two letters to Governors across the nation and leadership of major meat processing companies outlining expectations for the implementation of President Trump's executive order.
The U.S. meat industry faces unprecedented threats as COVID-19 sweeps through labor forces nationwide. Production of beef, pork and poultry are simultaneously threatened by labor availability and processing capacity.
The closure of 90% of American meat plants over the last 50 years isn’t due to a lack of knowledge or a failure to reinvest in facilities – it’s due to decades of lax antitrust enforcement, says Joaquin Contente.
Beef producing countries like Australia, Canada, New Zealand and Mexico are gaining greater access into Japan thanks to lowered tariffs, giving those exporters a significant advantage over U.S. beef producers.