Packer
Cash fed cattle prices turned higher late week with Kansas trading Friday morning and were rewarded for their patience.
Rising costs have forced stoppage of construction on the expansion of Iowa Premium’s beef slaughter facility in Tama, Iowa, the company confirmed Thursday.
Grocery retailer Giant Eagle alleges the nation’s large beef packing companies have exploited their market power to limit the supply of beef and raise prices in a new lawsuit filed in Chicago on Wednesday.
Declining carcass weights and the search for higher-grading cattle may lead to a market rebound sooner than expected.
With the Cattle Price Discovery and Transparency Act top of mind for many cattle producers, director of government relations at the Iowa Cattlemen’s Association, Cora Fox, shares her thoughts on the bill.
An 8,000-head per day state-of-the-art beef processing facility utilizing robotics and other high-tech features was announced in Rapid City last week. Groundbreaking would be as early as next year.
The city of Amarillo has approved incentives to encourage Producer Owned Beef, LLC, to locate their proposed new packing facility at a site in the Texas city near I-40.
Cattle feeders saw prices erode last week and have a summer slump in sight with large on-feed inventories and increasing costs of gain.
Senators call on the Federal Trade Commission Act of 1914 (FTC Act) to dive into the antitrust allegations against “The Big 4” including Tyson Foods Inc., Cargill, JBS SA and National Beef Packing Co.
When disruptions and ‘shortages’ occur, consumer buying habits shift in fear of the marketplace. Interestingly, the current infant formula shortage has striking similarities to the pandemic beef industry.
This week could be very unpredictable in the cattle trade. The North-to-South spread may continue to narrow as calves are still not ready and packers seem to be chasing more mature cattle in the South.
The North American Meat Institute says a House Select Subcommittee on the Coronavirus Crisis’ report distorts the truth about the meat and poultry industry’s work to protect employees during the COVID-19 pandemic.
The House Select Committee on the Coronavirus Crisis alleges meat packers pressed “baseless” claims of beef and pork shortages early in the pandemic to persuade the Trump Administration to keep operations running.
Brazilian meatpacker JBS SA posted a first-quarter profit that beat expectations on the back of strength in its United States business, according to a financial statement on Wednesday.
Biden says Ukraine has 20 million tons of stored grain awaiting export to various countries. He says lack of port movement coupled with halted planting in Ukraine will ignite a global food crisis unless action is taken.
Opponents of American Foods Group’s proposed Missouri packing plant have appealed the conditional permit granted for the facility and a hearing is scheduled for later this month.
Tyson Foods Inc TSN.N raised its full-year sales outlook on Monday after soaring meat prices helped the U.S. processor beat quarterly revenue and earnings estimates.
Cattle sold steady to firm and cattle feeders should still have a few weeks to try to push the market higher before cattle inventories increase.
Rather than running to the politicians to solve a problem, perhaps the better strategy might be to gather a plan to create a better understanding of the economics of the industry.
Prior to testimony at the House Agriculture Subcommittee on Wednesday, Tyson Foods Inc. President and CEO Donnie King released a statement to give his perspective about cattle and beef market practices.
U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Agriculture Committee, today participated in the committee’s hearing on the Cattle Price Discovery and Transparency Act.
Cattle will continue to come in lighter than expected and lose grade due to high ration costs. This could help keep forcing the packer to harvest more cattle than expected to keep their orders filled.
Working group of ag economists assess Cattle Price Discovery and Transparency Act of 2022
Next week will be a good one for folks with good internet access and a few free hours who want to see some rhetorical fireworks about cattle price discovery.
The tightest market-ready fed cattle supplies of the season in the North are helping to push prices higher for most feedyards.
JBS USA has made a gift of $700,000 to the University of Nebraska Foundation to support the University of Nebraska–Lincoln and its plans for a new Feedlot Innovation Center near Mead.
Cattle feeders in the South sold cattle throughout the week at steady money while feeders in the North pushed their market a little higher by week’s end.
Regional processing plants are not likely to be an easy success, but we need them so badly. So much more badly than we need crabs-in-a-bucket laws telling big feeders their marketing methods are too efficient to be fair.
Iowa Senator Chuck Grassley says he is “confident” the Senate Agriculture Committee will conduct a hearing on the Cattle Price Discovery and Transparency Act of 2022 introduced last week.
Prices on the South Plains remain locked in a price rut as packers appear to have plenty of inventory. Corn Belt prices remain premium to other regions.