During USDA’s 97th Agricultural Outlook Forum, USDA chief economist Seth Meyer provided insight into what the livestock and poultry sectors can expect in 2021.
Cattle feeding margins improved $60 per head the week ending Feb. 12 and hog margins reported profits for the second consecutive week as lean hog prices rallied.
The Senate has scheduled a vote on Tom Vilsack’s nomination for Secretary of Agriculture on Feb. 23. In early February, the Senate Agriculture Committee unanimously approved President Biden's pick to lead USDA.
Cash fed cattle prices ended last week $10 per cwt. lower than last year while the beef cutout closed $16 higher than the same week a year ago. The result? Packer margins $314 per head more than last year.
Whether it’s to fulfill Phase One promised, or an increased need for feed, some say the timing of the record Chinese buys isn’t a coincidence. So, what's driving the record demand from China?
Senate Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.) says she supports the Biden Administration’s move to freeze payments under the Coronavirus Food Assistance Program (CFAP).
Flexibility remains critical for animal protein industry, CoBank says, as foodservice sales are not likely to reach pre-pandemic levels before mid-2022.
Cattle and hog feeding margins were little changed last week, with both recording modest losses. Beef packers saw improved margins on significant gains in wholesale beef prices.
