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Cattle Industry News By Category: Economics

08 May 2020
CME update: US cattle futures rise on strong beef prices and restricting supplies
US live cattle futures surged by their daily trading limits for a second straight session on 7 May on soaring beef prices and concerns of meat shortages due to pacing plant closures due to COVID-19. ...
Abiec finds Brazil's 2020 beef exports steady despite pandemic
Brazil's 2020 beef exports will likely set a new record in terms of volume and value despite the economic uncertainty caused by COVID-19. ...
North American cattle market contracts sharply, leaving retailers at a loose end
As COVID-19 shutters slaughterhouses and processing plants, cattle are left on-farm, leaving retailers hungry for beef....
Trump watchful of China amid expected results of Phase 1 trade deal
President Trump told reporters that he would be able to report whether China is fulfilling its obligations under a Phase 1 trade deal between the two countries within two weeks....
07 May 2020
US and UK hoping to secure a quick trade deal as virus hammers global economy
The United States and United Kingdom launched formal negotiations on a free trade agreement on 5 May, promising to work quickly to secure a deal that could counteract the worst economic impacts of COVID-19....
FAO reports steep drop in world food prices in April due to coronavirus
World food prices fell for a third consecutive month in April amid economic and logistical upheaval from COVID-19....
President Trump urges Justice Department to investigate meat price disparities
President Trump said on 6 May that he had asked the Justice Department to look into allegations that the meat packing industry broke antitrust law due to price disparities in meat markets....
CME update: cattle futures rise on technical buying as processing plants reopen
US cattle futures surged on 6 May amid increased technical buying as investors said they were monitoring signs of meat packing plants reopening after COVID-19 infections among workers....
06 May 2020
Ag Barometer index drops below 100 as coronavirus disrupts agriculture
COVID-19 concerns, declining commodity prices and supply chain woes sink producer sentiment to a three-year low. ...
Canada approves one tenth of the requested COVID-19 aid for agriculture sector
Canada will invest $252 million CAD to help farmers and food processors weather the coronavirus slump....
McKinsey report finds that zero-emission tractors and cattle that belch less gas can curb climate change
Using zero-emission farm machinery, creating a cattle herd that produce less methane and adopting new technologies can significantly cut greenhouse gas emissions from farms....
CME update: cattle futures slide after three days of gains
US cattle futures closed lower on Tuesday in a profit-taking setback after three sessions of gains....
05 May 2020
Brazilian officials warn of agriculture protectionism amid pandemic
According to a draft report obtained by Reuters, Brazilian officials expect the COVID-19 outbreak to spur a rise in global agricultural protectionism as countries attempt to secure national food supplies....
Tyson Foods warns that coronavirus will restrict US meat supply despite Trump order
The COVID-19 crisis will continue to idle US meat plants and restrict production, Tyson Foods Inc says, signalling additional disruptions to the US food supply after President Trump ordered plants to stay open....
CME update: cattle futures inch up as plants reopen and wholesale prices rise
US live cattle futures closed higher on 4 May as meat processing plants reopen after closures due to COVID-19 outbreaks among workers....
04 May 2020
Greenpeace calls for EU to scrap the CAP
Greenpeace calls for a new farm subsidy system for post-coronavirus Europe....
US retailer Kroger limits ground beef and pork purchases in some stores
On 1 May, supermarket chain Kroger Co put purchase limits on ground beef and fresh pork at some of its stores in response to growing fears over meat shortages....
CME update: US cattle futures rise as wholesale meat prices strengthen
US live cattle futures closed higher on Friday after hitting a three-week high, bolstered by stable cash cattle values and climbing wholesale beef prices as labour shortages slow the speed of slaughter....
01 May 2020
Nine meat processing plants in Brazil contend with coronavirus outbreaks
Health officials in Rio Grande do Sul, Brazil’s southernmost state, report that coronavirus has spread to nine local meat processing plants....
Mexico-EU trade deal closer to being finalised
The European Union and Mexico have finalised a major upgrade to their free trade deal, agreeing to grant reciprocal market access to one another’s tenders for public contracts....
COVID-19 cases surge in reopened JBS plant; causing worker death
Confirmed coronavirus cases have more than doubled at a JBS beef facility in Colorado in “a number of days,” say union officials....
CME update: cattle futures close higher despite worries of slaughter slowdown
CME live cattle futures rise, bolstered by increased wholesale beef prices and strong packer profit margins....
Deep Science Ventures and University of Edinburgh team up to deliver Scotland's Agricultural Venture Builder
Deep Science Ventures (DSV) and the University of Edinburgh launch the Food & Agriculture Science Transformer (FAST), an ambitious programme creating the first venture studio in Scotland....
Front line food relief amid COVID-19 part 3 – The Bread and Butter Thing
How are local food relief organisations coping with the ongoing pandemic?...
30 April 2020
Tyson idles operations at beef facility in Dakota City, US
Tyson foods is temporarily pausing processing at a beef facility in Dakota City, Nebraska until 4 May to complete a deep cleaning amid the COVID-19 pandemic....
Cargill plans to restart Alberta beef plant on 4 May
After closing a beef processing plant in High River, Alberta due to hundreds of coronavirus infections, Cargill says it will reopen the facility as of 4 May....
CME update: US livestock futures mostly lower, with cattle being mixed
As meat processing woes persist, US live cattle futures were mixed as traders wrestled with the implications of a presidential order for US meat packing plants to remain open....
29 April 2020
Members of US Congress urge swift and fair coronavirus relief for farmers and ranchers
Hundreds of House members, led by Republicans from Arkansas, Georgia, Illinois and Minnesota, sent a letter to President Trump requesting that COVID-19 relief be implemented as quickly and fairly as possible. ...
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