Additional cattle are continuing to come to feedyards, but fortunately there’s been several market factors at play to help offset beef supplies, at least for now, said Craig VanDyke, Top Third Ag Marketing.
Estimated cattle industry losses due to COVID-19 will reach $13.6 billion, according to a study by ag economists conducted to assist USDA in determining how best to allocate CARES Act relief funds to cattle producers.
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.
A bus that normally is full of students, is now delivering meals to students in need. Hardin-Central School District was forced to close over COVID-19 concerns, meaning some students may have been without enough food.
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.
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.
The Sonja Hillgren Memorial Scholarship provides three university students who have a passion for food and agriculture with $1,500 each, professional development opportunities and mentoring from Farm Journal staff.