Through May 17, U.S. ground beef sales increased more than $1 billion compared to the same period last year. That’s just some of COVID-19’s impact on retail meat and poultry markets.
Tyson Foods said on Wednesday it will discount prices on certain protein products the remainder of this week, and some beef items could be discounted 20% to 30%.
CoBank estimates meat supplies at grocery stores could shrink nearly 30% by Memorial Day, leading to prices rising by as much as 20%. Some cattle producers say they are barely hanging on due to futures prices.
The latest shock to the industry is the daily boxed beef price. On Thursday, it hit a record of $364.62. That is a jump of $30 over Wednesday, a two-thirds increase from the lows in February.
The cattle market has been dynamic over the last couple of weeks. Consumers have been hoarding meat due to COVID-19 while the futures and cash prices are not necessarily reflecting it.
Producers watch to see if retail beef demand will continue its slow decline as consumers’ freezers are now packed with meat. There’s a discussion on market manipulation and if there’s a need for an investigation.
Michigan is under a stay-at-home order in an effort to fight the coronavirus. However, farm work must go on and it is business as usual for many operations.
Fears of the coronavirus continue to haunt the stock market despite the Federal Reserve’s efforts to calm it. Live cattle prices have dropped to numbers producers and traders haven’t seen in nearly a decade.
In this exclusive video, Dr. Moore breaks down what generic actually means to quality. He’ll also explains how drugs get approved and why producers should feel confident using generic products.
AgDay visited a feeder cattle auction at the Shipshewana Trading Place in Shipshewana, Indiana to find out what prices were like there to kick off 2020.
Earlier at the Cattle Industry Convention and NCBA Trade Show, USDA Secretary Sonny Perdue addressed the scare of the coronavirus to the beef industry. It still remains a threat today.
NAFTA was a trade pact written in the early 1990s. Derrell Peel, an extension livestock specialist with Oklahoma State University, is one who aided and gave his insights when trade negotiators were writing the deal.
USDA’s Cattle Report shows the expansion stage is coming to an end.
The total inventory as of January 1 is 94.4 million head, down slightly from 94.8 million head a year ago. It’s not a surprise to industry.
The Cattle Industry Convention and NCBA Trade Show took place last week in San Antonio, Texas. AgDay took the show on the road for a special edition of the newscast.
A Montana magistrate judge granted summary judgement Wednesday to the government and the 15 qualified state beef councils targeted in the R-CALF vs. Sonny Perdue lawsuit.
The Dow Jones fell after topping the 29,000 mark Friday. However, some market analysts say a climbing stock market may mean more money in the cattle markets.
There are some new, numbers when it comes to beef production in the U.S. over the last 50 years. USDA researchers say production has increased by 25%. That's even while the number of cattle for beef has decreased by 6%.
In a bizarre twist, Nebraska authorities say human remains found in a recently purchased stock trailer may belong to one of the brothers murdered in Missouri last summer.
China has been buying a lot of U.S. pork recently. Yet, the hog market may not see as big of a boost as what producers want with the news. Tyne Morgan discusses why, in this AgDay analysis.
Ag Secretary Sonny Perdue says he believes most ag groups will be happy with details of new trade agreement with Japan as it marches closely to TPP roadmap.
The United States will nearly triple its annual duty-free beef exports to the European Union (EU) over the next seven years under a new trade agreement signed at the White House.
USDA's mid-year inventory totals suggest that the U.S. cattle herd has reached a plateau. I contrast a plateau with a more typical cyclical peak inventory that historically has implied a liquidation phase to follow.
As attention to alternative protein grows, China could hold the answer to whether it's a growing market that could eat away at demand for traditional meat sources. John Phipps explains in Customer Support.
A Kansas City-based cattle company is 100% veteran owned and operated, raising Wagyu beef. Owner Patrick Montgomery decided to use his military past to help provide other veterans with a fresh start.
Livestock producers are still adding up the totals when it comes to losses they suffered in last month's flooding but one analyst expects the losses won't likely curb cattle herd expansion.
As Nebraska continues to battle what appears to be the worst natural disaster in state history, stories are slowly starting to pour out of the region from farmers and ranchers impacted by the flood.