Packer
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%.
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.
In testimony before the House Ag Committee, the Meat Institute said the current labor shortage is a significant factor driving U.S. food prices higher.
Cow and bull slaughter for 2021 continues outpacing last year’s totals, and cow processing plants are operating at higher capacity utilization levels than fed cattle plants.
Cattlemen considering making the leap into ownership of a packing plant should consider how their risk profile dramatically changes with labor, trucking, and the cost of building and retaining markets.
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.
Cargill has closed its processing plant in Hazelton, PA, which employs 900 workers, indicating it will reopen when “it is safe” to do so.
Total 2019 meat production in the U.S. is currently projected to reach another record level of 103.3 billion pounds, up 1.3 percent year over year.
A bipartisan letter was sent the FTC to investigate the growing concentration in the meatpacking and processing industry, and any anticompetitive behavior resulting from this concentration.
Tyson Foods has achieved a 96% vaccination rate for COVID-19 among its 120,000 American workers.
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.
Texas Tech researchers have received a grant to examine if thermography can help minimize the use of antimicrobials in cattle through targeted metaphylaxis.
Greater Omaha Packing announces a partnership with Food Bank for the Heartland to routinely donate high-quality beef, providing nutritious protein for residents in Omaha and Western Iowa communities.
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.
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.
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.
Wholesale beef prices have declined nearly 18% since late August at the same time retail prices have risen. But demand for beef remains high, with forward buying increasing the last few weeks.
For their influence on the beef business, shifting toward quality and value-based marketing, U.S. Premium Beef earned Certified Angus Beef’s (CAB’s) 2021 Progressive Partner Award.
A federal judge in Yakima, Wash., has denied Tyson Fresh Meats’ motion in bankruptcy court to pursue fraudulent transfer claims against Easterday Ranches for the sale of its North Lot prior to filing for bankruptcy.
Holidays are out of our way, but packers have begun their fall cooler cleanings. This rotation will keep at least one plant running short for several weeks and will continue to keep fed cattle harvest to a minimum.
Does the beef industry have enough packer capacity? With repeated bottlenecks and a worker shortage, a better question might be, “can the industry better use the capacity it has?”
The Grand Island, Neb. Fire Department has concluded its investigation into the cause of the fire last week at the JBS beef processing facility.
Cattle feeders continue to struggle with ample supplies of market-ready cattle and only moderate demand from packers.