Packer
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.
JBS USA announced it has suffered an organized cyberattack that has affected servers supporting its IT systems in North America and Australia.
JBS USA says it has invested $130 million to increase production capacities at two of its major beef processing facilities in Grand Island and Omaha, Neb., and announced annualized wage increases over the past year.
Gregory Bloom, CEO and owner of U.S. Protein, shares his perspectives on the cattle market based on experience as a cattle buyer, meat seller and working with chefs and restaurants.
JBS USA said it paid an $11 million ransom to cyber attackers that shut down operations in the U.S. and Australia last week. All plants were fully operational by June 3.
Packers were forced to push the market higher in their quest to find higher-grading cattle last week. High=grading cattle are becoming harder to find with each passing week.
Cattle trades continued in a familiar pattern last week with prices steady to somewhat firmer late week. Feeders keep working to clean up backlog cattle.
Senators Tester (D-MT), Grassley (R-IA), and Rounds (R-SD) have introduced legislation that would amend the Packers and Stockyards Act to establish the Office of the Special Investigator for Competition Matters.
The fed cattle trade last week continued down the same path that we have seen for several weeks. The upcoming weather forecast of hot weather will not be helpful for the backed-up cattle supply.
The White House said Brazil’s JBS SA has informed the U.S. government that a ransomware attack that disrupted meat production in North America and Australia originated from an organization likely based in Russia.
Argentina said on Monday it had temporarily shut down 12 beef exporters over “irregular” operations and had seized over 220 tonnes of meat as tensions over the government’s meat export ban deepen.
Cash prices held mostly steady last week, which could be a sign packers are beginning to get through some of the committed cattle and be in the market to buy more cash cattle from independent cattle feeders.
Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars.
Brazilian securities regulator CVM accused Marcos Molina, the chief executive of Brazilian meatpacker Marfrig Global Foods SA, of the “misuse of privileged information” involving Marfrig shares before a filing in 2018.
Fitch Ratings has affirmed the Rating Outlook of Tyson Foods, Inc. and the Hillshire Brands Co from negative to stable.
Packer needs for cattle appeared to be limited last week, yet prices paid in all regions held relatively steady with the previous week.
Cattle feeders in the South region continued to see a lack of negotiated cash trade due to an abundance of market ready cattle.
Many independent feeders are finding themselves fighting the same issues this year as they faced last year, yet feed costs are more than double what the were last year.
Stretched to its limits, packing capacity hinders cash prices and industry growth.
Ample supplies of fed cattle continue to hang over the market as feedlots struggle to get more current. Beef packers have very large margins and appear to be trying to push kills in the face of limited capacity.