Feedyard
All parties upstream of the packing sector are elated, and likely relieved, to see the price break free from the furrow between $120 and $125/cwt that the fed cattle trade had been digging for 19 weeks.
Last week cattle feeders found themselves in an environment they had not seen since August of 2019. Four packers were in the market competing for the cattle that were available on the list.
Cattle feeders found willing packer buyers even as they priced cattle higher throughout the week. Higher prices were supported by solid gains in the futures markets.
Prosecutors said Robert Blom altered purchasing agreements, misled investors and sold the same groups of cattle to multiple buyers using the money to pay back previous investors.
Brazilian meatpacking giant JBS SA says it will use Bovaer, a feed additive to reduce methane emissions in its global supply chains.
Zoetis announced Synovex® One Grower as the new trade name for the long-duration cattle implant producers have known as Synovex® One Grass.
A recent bill passed the House Ag committee outlines the creation of a contract library to provide a public listing of terms and details in order to provide greater market transparency.
The coronavirus meltdown is the second black swan event for cattlemen in six months, but many fear this is worse than the Tyson packing plant fire.
Tyson Foods announced a one-time assistance payments to cattle feeders “in an effort to demonstrate our commitment and support of our valued cattle suppliers.”
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.
While any tally of cattle waiting on shackle space is – at best – an estimate, an analysis of Cattle on Feed and slaughter data suggests estimates of 1 million cattle backlogged may be overstated by as much as 50%.
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.
Two of America’s largest beef packing companies have announced plant closings due to COVID-19. One in effect until April 20 and one until April 24. The plants have a combined harvest capacity of 6,500 cattle per day.
Average drought conditions currently are slightly worse than the drought conditions at this time last year. Although there has been some regional changes in drought situation, the overall picture has not changed much.
Cash fed cattle prices moved higher last week with all packers participating. This week cattle feeders will look to keep the momentum going.
Cash fed cattle prices finally broke out of a weeks-long rut, trading $2 to $4 higher in all regions. This week saw the highest prices of the year and the highest average since 2019.
Sustainable Beef LLC, the Nebraska firm that announced plans to build a 1,500-head per day beef slaughter facility in North Platte, will seek $21.5 million in tax increment financing (TIF) from the city.
While it has taken longer than expected to turn the corner on tighter feedlot supplies, the change may be relatively sudden as the dynamics of fall placement weights should result in a rapidly changing inventory.
Packers were willing to take a little lower grading animal last week, but cattle feeders may have a limited window to get those undesirable cattle market before larger supplies appear on showlists.
Market-ready cattle numbers decline with little affect on prices, signaling supplies remain ample compared to slaughter capacity. Cattle on feed numbers were lower versus year-ago for the first time in 16 months.
Cash cattle trade looked to be a repeat of the last several weeks with packers grudgingly upping bids. It was not a huge increase, but it is a sign that the number of front-end cattle available is becoming shorter.
Cash cattle prices were steady to slightly higher as supplies of market-ready cattle continue to decline. Analysts believe the fall low is in and stronger prices will prevail the balance of the year.
Bion Environmental Technologies has announced plans to build a beef production facility near Fair Oaks, Ind., in the next phase of development of a sustainable grain-finished beef product line.
Wholesale beef values continue to fall rapidly in a fall pattern that’s grossly overdue. Much remains in flux in the 2021 market, with record-high seasonal beef values inflated alongside so many other commodities.
The 2022 Hereford Feedout Program and NJHA Fed Steer Shootout provide breeders the opportunity to collect valuable carcass and performance data, maximize profit potential and expand marketing avenues.
Beef exports during August were an all-time record for any month. U.S. beef exports continue to be fueled mostly by the strong growth in the China/HK market, up 160.5 percent year over year in August.
The number of high end market ready cattle should be limited for the next several weeks. If the cattle feeder has any opportunity to take any of the margin from the packer the time may be upon us.
The Iowa Chapter of the Sierra Club is suing the Iowa Department of Natural Resources in an effort to stop a 11,600-head feedlot in Clayton County that lies near Bloody Run Creek.
Legislative proposals aimed at the U.S. livestock markets could have a negative impact on farmers and ranchers they are intended to protect, Meat Institute argues ahead of Thursday’s House Ag Committee hearing.
Report requested by Congress and USDA puts into context a variety of cattle market disruptions, including the 2019 Tyson fire and the COVID-19 pandemic’s effect on packing plants and disruption of beef supply chains.