Packer
The indefinite closure of Tyson’s Holcomb, Kan., facility creates the potential the cattle “marketing pace will slow down and carcass weights will increase.”
Packers enjoyed a comfortable inventory last week, and many have stopped Saturday harvests, which helped push cash cattle prices $1 per cwt. lower.
The fluctuation in the cash price in this trade seemed to be mostly dependent on the location of the cattle, with prices ranging from $114-$116, with dressed trade at $182-$185.
Over the next few weeks patience and a calm trigger finger could be profitable to the cattle feeder as the supply of market-ready cattle declines.
Brazilian reporters claim JBS SA has been buying cattle from ranches grazing cattle on deforested land in the Amazon, a practice forbidden by the Brazilian government.
Cattle feeders were hopeful that last week was the bottom of the decline in cash cattle prices, but a negative corn report helped prices even lower.
Packers were able to keep the market suppressed as the trade began last week at $2 back of the previous week.
Tyson Foods’ executives told investors its beef margins are benefitting from a structural shift higher due to both domestic and global demand growth and a favorable supply of cattle.
Fed cattle trades were few and far between last week, with most bids lower and packers seemingly uninterested.
Prices were higher for all classes of cattle for the week ended Oct. 13, with cash fed cattle trading at $111 per cwt., $2 higher. Cattle sold on a dressed basis at $175 per cwt., $2 to $3 higher.
Post-scandal squeeze on finances sparks asset sales, cutbacks.
In letter, EU demands improved checks on meat safety.
ABC and a South Dakota meat producer announced a settlement Wednesday in a $1.9 billion lawsuit against the American network over its reports on a lean, finely textured beef product that critics dubbed “pink slime.”
Wesley and Joesley Batista have combined debt of $790 million.
Jury selection started Wednesday in a more than $1 billion defamation case over ABC news reports on a South Dakota meat producer’s lean, finely textured beef product, which critics have dubbed “pink slime.” The trial in state court is scheduled to last until late July.
JBS owners Wesley and Joesley Batista said to have agreed to a plea bargain.
JBS’s founders are known for both big business and scandals.
Meat producers may lose as much as 10% of market share.
Major importers ban Brazil shipments after food-safety scandal.
The so-called Weak Flesh probe launched Friday by Brazilian police into the alleged bribing of federal inspection agents to clear the sale and export adulterated meat has taken a toll on the world’s largest exporter of beef and chicken.
Imports halted from 1 plant of BRF and 1 Seara facility.
Zhang Lian has 270 tons of frozen Brazilian beef on a ship steaming toward Shanghai that he may not be able to get through customs when the vessel arrives next month.
JBS and BRF launch massive media campaigns to stave off impact.
The Brazilian ag sector is trying to minimize damage both at home and in export markets after allegations of corruption are raised against meat inspectors and accusations of allowing rotten meat into the marketplace.
President Michel Temer called Brazil’s scandal over the sale of expired meat an embarrassment Tuesday as more countries suspended some meat imports from the South American nation.
EU seeking information from Brazil and may schedule meeting. While President Temer calls emergency meeting in Brasilia for diplomats.
Major importers have imposed restrictions on Brazilian meat.
“I hate the stuff,” says a butcher and author of a new cookbook dedicated to beef. He’s not alone.
A Cody, Wyo. company is seeking about $940,000 in financial help from the state so it can beef up sales of its jerky products.
So much for the winter blues. It’s been so balmy across part of the U.S. that Americans have been firing up their grills at a time that’s usually better suited to sipping hot cocoa.