Packer
A federal judge has denied a motion for dismissal of the lawsuit alleging price fixing and market manipulation by America’s four largest beef packers.
In a letter to Ag Sec. Tom Vilsack, the North American Meat Institute asks the administration to stop ignoring “fundamental principles of supply and demand” and acknowledge industry structure is not causing inflation.
The U.S. Roundtable for Sustainable Beef (USRSB) launched additional sustainability modules for companies within the U.S. packer and processor sector.
An overnight fire at the JBS beef facility and a temporary computer glitch at Tyson’s Dakota City facility disrupted beef packing on Monday sending futures prices sharply lower.
Firefighters responded to a fire at the Grand Island, Neb., JBS beef facility on Sunday night.
Negotiated cash trade of fed cattle was limited in both the South and the North last week, and steady to softer prices was the result.
In the haste to go after packers in order to gain producer trust, the government may be using consumer price inflation as a means for greater leverage against packers, suggests John Nalivka.
The fed cattle market in the South continued to inch higher last week. Now that we have the holiday behind us packers should have a greater need for cattle than what we have seen for the last several weeks.
Last week’s cash cattle trade was influenced by downtime at multiple packing plants due to mechanical and labor issues.
JBS says it seeks opportunities for acquisitions and expansion, but two U.S. senators are calling on the U.S. Treasury Secretary to open an investigation into the Brazilian meatpacker.
Cattle prices pushed higher with trade volumes also increasing. The market has been aided by the decline in committed cattle, helping independent feeders clean up their showlists.
Calls for cattle market reforms could hinder alternative marketing agreements (AMA), a value-based marketing tool that has improved beef quality over a generation.
Late week sales in the North topped the market but fed cattle were firm to higher across all regions. Wholesale beef prices surged more than $18 per cwt. higher for the week.
Voters rejected a proposed small beef processing facility slated for Worthington, South Dakota, in a referendum held last week.
Labor challenges for packers are particularly acute on Mondays, which have the lowest daily average slaughter in 2021. Carcass weights will rise seasonally the rest of the year but will remain lower year over year.
The hearing held on July 28 featured testimony from economists and covered the recent Black Swan events affecting the cattle industry.
The “Beefing up Competition: Examining America’s Food Supply Chain” hearing will be livestreamed at 2:30 P.M. eastern.
The senator supports legislative action because of concerns that small producers are losing money on cattle due to being unable to spot market.
Cash cattle traded steady, with cattle feeders in the South still needing a couple more weeks for good trade volume before they have any shot at being able to push the live market higher.
Sustainable Beef, LLC, will likely receive $1 million from the North Platte Quality Growth Fund. to be used to help pay for the estimated $10 million cost of architectural, engineering and planning.
Feedyard show lists are declining but the day that most lists get sold each week is still several weeks away. Packers have begun to take Saturdays off which will not speed the recovery from the backlog.
The meatpacking industry will take center stage on Capitol Hill as members of the Senate Ag Committee hold a hearing designed to take a deep dive into the cattle markets amid accusations of price imbalances.
Just for fun, let’s say the DOJ goes full 1911 and ‘Standard Oils’ the meat industry. The ‘Big 4’ become the ‘Midsize 22’. Then what? Janet Barnard offers insights.
As part of its Hometown Strong program, JBS USA says it will invest additional funds to work with local leaders to build new homes and establish revolving funds to stimulate housing construction.
A light volume of cattle traded last week as per usual ahead of a holiday-shortened week. Prices traded steady to slightly lower with packers more willing to accept lower-grading cattle.
Cattlemen’s Heritage Beef Company announced plans Friday to construct a 1,500-head per day beef processing facility in Mills County, Iowa, south of the Omaha/Council Bluffs area. The plant will employ 750 workers.
Cattle trade was light in all regions this week with prices steady to higher. USDA’s cattle on feed report put inventories up slightly with placements down 7% from last year, at the low-end of the pre-report estimates.
The fallout continues from a ghost-cattle scheme as Rabo AgriFinance filed suit in federal court seeking to foreclose on Easterday family assets that have been in default for months.
JBS USA said Wednesday the “vast majority” of its processing plants were operational after a Memorial Day weekend cyberattack on its operations in North America and Australia.
An unprecedented meeting held in May among major cattle industry representatives, typically at odds, has produced plans for change and calls for answers from U.S. lawmakers. Keep up with the latest on this page.