Pilgrim's Pride, the nation's second-largest poultry processor, entered a guilty plea to federal charges of price-fixing and bid-rigging, the Department of Justice said on Tuesday.
Beef production slowed to a virtual standstill in the South due to extreme winter weather. Heavy demand on electricity and natural gas limited packers from running at capacity, and their need for inventory was limited.
Negotiated cattle traded steady to higher for the week with moderate volumes ahead of a major winter storm that is likely to increase feeding costs and reduce market weights.
Claiming Easterday Ranches conducted a “fire sale” of one of its feedlots just days before filing for bankruptcy, Tyson Foods asks a U.S. Bankruptcy Court to appoint a trustee to take control of the Easterday estate.
Cash cattle markets continued its painfully slow climb higher last week, and most feeder anticipated the gain would be faster. Feedyard costs are on the rise, and any gains are most welcome.
U.S. beef exports finished 2020 down 5% in both volume and value, but finished the year on an upswing with fourth quarter volume up 4.4% from 2019 and posting one of the best months on record in December.
Regulatory activity may be the single greatest threat to U.S. food production as it impacts the entire supply chain from the producer to the consumer. It appears U.S. regulatory activity is increasing.
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.
