U.S. pork exports recorded the highest-ever monthly value in November while U.S. beef export value took another step toward a likely full-year value record, according to data by USDA and compiled by USMEF.
Fears of the coronavirus continue to haunt the stock market despite the Federal Reserve’s efforts to calm it. Live cattle prices have dropped to numbers producers and traders haven’t seen in nearly a decade.
Tyson Foods Inc. delivered a mixed bag of quarterly results while retaining an upbeat global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.
Trade talk is a big issue for everyone here at the convention and the focus isn’t just on China. For another year, the priority remains the same, the cattle industry vocal they want a free trade deal with Japan.
Grilling season is here and Memorial Day marks one of the biggest meat consumption weekends of the year. Chicken has been the champion protein in recent weeks, with restaurants driving much of the demand.
Producers watch to see if retail beef demand will continue its slow decline as consumers’ freezers are now packed with meat. There’s a discussion on market manipulation and if there’s a need for an investigation.
CoBank estimates meat supplies at grocery stores could shrink nearly 30% by Memorial Day, leading to prices rising by as much as 20%. Some cattle producers say they are barely hanging on due to futures prices.