Packers desperate to keep their grasp on the cattle market looked to their inventory to keep the pressure on cash prices. Cattle feeders reluctantly traded lower.
Cash cattle prices retreated from the previous week's historic highs and a seasonal decline was to be expected. Analysts, however, believe another rally is brewing later in the season.
The Packers and Stockyards Act changes may be coming, as the Fiscal Year 2024 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Bill has been sent to the full House for consideration.
Meat processing plants in the U.S. have garnered considerable public attention recently. A new study looks to identify characteristics associated with plant survival and provide crucial information for legislators.
A significant rally in fed cattle over the past three weeks confirms the front-end supply of cattle remains extremely current and cattle feeders have been willing sellers driven by good profits and a strong basis.
Profit margins for cattle feeders and packers continue pacing in opposite directions as shrinking supplies of market-ready cattle drive negotiated cash prices higher.
Packers were aggressive bidders in all regions as cash fed cattle markets made historic late-season moves higher in the holiday-shortened trading week.
Packers unexpectedly found themselves chasing a limited supply of higher-grading cattle last week and the result was sharply higher prices in the North.
The price spread between Northern cash cattle sales and Southern sales more than doubles as packers struggle to find inventory to maintain acceptable capacity utilization.
The Meat Institute partners with the Information Technology-Information Sharing and Analysis Center to enhance cybersecurity for the meat and poultry industry.
The Protein PACT Academic Advisory Council is formed to advise on research priorities and the latest evidence related to meat production and consumption.
The Protein PACT Academic Advisory Council is formed to advise on research priorities and the latest evidence related to meat production and consumption.
The current front-end supply and winter delayed calf-feds have the northern packers stretched for inventory. Will that aid feeders' ability to push prices higher in the coming weeks?
U.S. House Agriculture's Subcommittee hearing on Wednesday provided an opportunity for animal agriculture stakeholders to detail their priorities they hope to achieve from lawmakers actions.
After Tyson Foods reports anemic first quarter sales and downgrades its forecast, The Wall Street Journal editors wrote, “This doesn’t look like an antitrust conspiracy or market oligopoly.”
A broad view of recent carcass cutout values shows plenty of strength in wholesale boxed beef prices. To contrast current values to a year ago, CAB and commodity Choice cutouts are 14% higher.
Packers are working to remain profitable, using basis for extended delivery, freighting cheaper inventory to areas of regional cash strength and running harvest at a snail's pace.
Tyson Foods Inc posted a surprise second-quarter loss on Monday and cut its full-year revenue forecast on falling beef and pork prices, sending the U.S. meat packer's shares tumbling 9% before the bell.
Negotiated cash cattle prices declined for the third consecutive week in a moderate to active trade. Wholesale beef prices also declined yet remain above seasonal averages.
JBS USA is ending contracts with a U.S. company fined for hiring kids to clean meat plants, the unit of Brazilian meatpacker JBS SA said on Monday, adding it is bringing the work in-house at some facilities.
A softer market for the first time in a month, but its a breather we have all been expecting. Keep an eye on the basis between cash and futures as packers will use it to gain leverage.
Negotiated cattle prices fell short of steady on the week, though fundamentals point to further gains in the short-term. Cattle on feed found 4.4% fewer cattle at the bunk, but placements were mildly surprising.
USDA announced $125 million will be available through two new grant programs that will create more options for meat and poultry farmers by investing in independent, local meat and poultry processing projects.
Packers continue to haul cheaper inventory to regions grinding higher and peel back harvest to stall the market. This is all friendly, one does not cut kills with peak demand on the forefront.
USDA sent a letter to the 18 largest meat and poultry processors to request all actors in the food supply chain take steps to prevent or eliminate illegal child labor, which has risen 69% since 2018.
With cattle feeders in the driver's seat, packers will seek leverage to price cattle for future delivery. They aren't looking to do feeders a favor with the strategy.
New research helps policymakers understand the role multi-plant coordination plays in the fed cattle market as they consider policies aimed at increasing negotiated trade with the hope of improving price discovery.
Northern feeders have experienced considerably more adverse weather and muddy pen conditions than southern yards, contributing to the tightening supply of well-finished cattle.
Tyson Foods gave its chicken suppliers two months' notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about Tyson's compliance with antitrust regulations.
The management of Brazilian meatpacker JBS SA said on Wednesday it "will be selective" in relation to launching share buyback programs and also regarding acquisitions given instability in international markets.
Beef packers show their willingness to rely on their captive supplies as they struggle to hold a lid on rising cattle prices. Tighter supplies in the coming weeks will force their hand.
USDA issued a proposed rulemaking on Monday that would effectively close the "Product of the U.S.A." loophole that has been in effect since the repeal of COOL in 2015.