Packer
Cattle feeders in the South were able to keep the market mostly steady to higher for the week. Most cash trades were $95-$96 with producers finding themselves in a position to pass on lower bids for front end cattle.
Ag economist Derrell Peel says past events provide a case study to current market conditions and give a clue into the way markets respond to disasters.
Cattle feeders knew selling ahead of a short holiday week would create additional challenges for cash cattle prices and the ability to move cattle. Unfortunately, trade volumes met low expectations.
The downward spiral in the cash cattle trade is ongoing as the number of market-ready cattle continues to grow. Showlists are already overburdened to date, and market-ready cattle add to the list weekly.
Cargill launches the Cargill Cares Employee Disaster Relief Fund to support employees around the world during times of catastrophic or personal disaster.
U.S. cattle slaughter was up an estimated 25% over the previous holiday-shortened week as beef packers gradually return to near-normal capacity utilization.
Cash cattle prices traded higher last week, and for the first time in several weeks most of the major beef packing plants should be up and running this week, though not full-throttle.
The South Dakota Farmers Union is seeking investors to help purchase the DemKota Ranch Beef packing plant in Aberdeen, S.D., which has capacity to harvest 1,200 fed cattle per day.
Some operational changes made by the packing and processing centers are likely to remain after the COVID-19 pandemic is over, leaving some higher costs in the supply-chain.
The cattle industry sees a glimmer of hope in last week’s harvest data, with estimated slaughter at 452,000 head, down 32.2 percent year-over-year, but up 6.4 percent from the prior week.
The closure of 90% of American meat plants over the last 50 years isn’t due to a lack of knowledge or a failure to reinvest in facilities – it’s due to decades of lax antitrust enforcement, says Joaquin Contente.
The loss of the food service demand caused beef middle meats to drop to their lowest price in a decade. Conversely, the carcass cutout value has increased, driving a wider spread between live cattle and carcass values.
The cattle industry continues to struggle getting cattle out of feedyards and into harvest facilities, leading to another week of limited trade.
The reduced number of cattle harvested wasn’t a surprise with the issues that all packers have faced in the past few weeks with COVID-19.
Cattle feeders experienced a week of light participation from packers as the impact of COVID-19 begins to hamper beef production facilities.
Cash cattle prices were under pressure as packer demand was soft in both the North and South last week. Numbers of ready cattle will grow in the coming weeks.
Can prices gained in last week’s fed cattle rally be maintained? There is some concern that the lack of cattle moving in the cash trade is starting to back cattle up and hurt hard-earned gains.
After several days of up and downs in CME futures prices, cattle feeders saw their chances of getting back to steady slip away on Thursday as the board sold off.
Does the beef industry need additional packer slaughter capacity? Recent history suggests cattle prices were highest when packing capacity utilization was lowest, but the answer is complex.
At the NCBA Trade Show in San Antonio, Certified Angus Beef’s director of packing explained the opportunities still open for producing Prime.
Three Tyson Foods, Inc. sustainability programs achieved recognition for alignment to the U.S. Beef Industry Sustainability Framework.
If there was ever a question of how much outside influence there is on the cattle market it was completely exposed this past week with fears over the coronavirus growing.
Cattle traded in the south early in the week at $1 higher prices, suggesting packers were hungry for inventory.
If investors continue to find value in the live cattle market, producers may see a run in the board that could carry over into the live cattle trade.
USDA’s latest carcass weights data show steers 12 pounds heavier than last year and heifers 13 pounds heavier than last year, resuming a higher trend after moderating the past three years.
CattleFax sees positive cattle outlook for 2020; predicts focus on consumers a requirement for continued beef industry success.
Packers need cattlemen, cattlemen need packers. Cargill Protein VP Glen Dolezal discusses what consumers are demanding and how they’re working with their rancher suppliers.
Cargill is launching a new premium beef brand called Salt & Sear™ it says will allow consumers to purchase restaurant-quality beef to prepare at home.
Packers didn’t show much interest in pursuing additional inventory last week, and the result was a cash market that traded $1 lower.
Last Monday the cattle market felt the same negativity as all other markets with the uncertainty of what may happen to global trade due to the effects of the coronavirus.