Packer
There appeared to be more cattle trade than what we have seen for several weeks, but with only one or two packers needing cattle it was difficult for feeders to push the market higher.
While Tyson’s lawyers were filing a lawsuit on Monday against one of the packer’s largest cattle suppliers, the ink was still drying on the sale of one of that supplier’s feedlots to one of Tyson’s competitors.
Kansas Gov. Laura Kelly said Thursday that every meatpacking plant worker in Kansas who wants a COVID-19 vaccination can get one by the end of next week.
Packers, as usual, were in a position of leverage and needed very little cattle for the next week’s harvest. This continues to be the biggest problem with driving the cash price higher.
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.
Four packers participated in negotiated cash trade in the South last week, but their bids were disappointing as none needed additional inventory.
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.
Tyson Foods, Inc., is piloting a new Matrix Medical Network program that assesses, addresses, verifies and monitors the effectiveness of Tyson’s efforts to protect its workforce from COVID-19.
U.S. meat and poultry processor Tyson Foods Inc was sued on Tuesday for allegedly defrauding shareholders with misleading disclosures about its ability to combat the spread of the coronavirus in its facilities.
Cattle feeders showed they have the resolve to fight for higher bids during last week’s cash cattle trade. The market rallied $3 as the futures market continues to suggest better days ahead.
A U.S. congressional panel is investigating three large meatpacking companies for possible worker-safety violations following reports that hundreds of industry workers have died of COVID-19.
Claiming losses of “more than $200 million” in connection with “200,000 cattle that did not exist,” Tyson asks for a court-appointed receiver to takeover Easterday Ranches in Washington state.
On-feed numbers indicate that packers could be running low on committed cattle, which should force some packers back into the cash market in the coming weeks.
Cattle feeders were left on the sidelines as every other cattle/beef market segment saw a price rally. Futures markets set new highs, but cash cattle have not reached $112 for seven months.
Cargill announced it will temporarily idle two of its protein processing facilities for scheduled maintenance. The idling of the facilities is unrelated to the COVID-19 pandemic.
Tyson Foods has agreed to pay a settlement of $221.5 million in the broiler chicken antitrust civil price-fixing lawsuit, according to filings Tuesday in federal court in Chicago.
The over-supply of cattle combined with a lack of interest from packers pushed the cash cattle market lower last week.
Missouri Prime Beef Packers - a 500-head per day facility - is set to open later this month in Pleasant Hope, Missouri.
Cattle feeders found higher prices as 2020 came to a close, but their ability to push the market higher may hinge on how Live Cattle futures perform in the first weeks of the New Year.
Tyson Foods notified the Securities and Exchange Commission on Monday it was filing corrected financial results after an internal review found “misappropriation of company funds” by one of its beef suppliers.
All packers were active players in all regions in the days leading up to the Christmas weekend and prices rallied $2 per cwt. accordingly. Feeders reported good clean-up throughout the region.
While packing plant closure and slow-downs disrupted the beef industry in 2020, demand will become more critical heading into 2021 including consumption at-home, away-from-home, and for export.
Cash cattle in the South traded steady, and futures contracts had a decent week but packer needs during the holidays seem to have more of an effect than the futures market.
Tyson Foods Inc said on Wednesday it had fired seven managers at an Iowa pork plant after investigating allegations that they took bets on how many employees would catch COVID-19.
President Donald Trump told reporters Wednesday he has asked the Justice Department to look into allegations that U.S. meat packers broke antitrust law.
To protect essential frontline workers, JBS USA has voluntarily removed hundreds of at-risk workers from a Greeley, Colo., beef plant in response to rising COVID-19 infections in the community.