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Cattle Industry News By Category: Economics

27 April 2020
Namibia's first batch of beef reaches US
NAMIBIA - Namibia's first beef consignment sent to the US around 20 February of this year has finally reached its destination....
Democrat Senators call for Attorney General to investigate price fixing in the US cattle market
Senator Doug Jones and his colleagues are calling for US Attorney General William Barr to investigate reports of price fixing in the cattle market in the wake of the coronavirus pandemic. ...
UK warehouses could reach full cold storage capacity within three weeks
The world’s biggest cold storage supplier reports that its UK warehouses could soon run out of space due to stalling restaurant demand....
CME update: cattle futures sink as profit-taking and technical selling pressure prices
US live cattle futures eased on 24 April as end-of-week sales and profit taking pressure livestock markets....
24 April 2020
Combined inventory of red meat, poultry in cold storage at end of March higher than a year ago
US - The combined inventory of beef, pork, chicken and turkey in cold storage at the end of March was estimated at 2.435 billion pounds, 1.5 percent higher than a year ago and 5.7 percent higher than the five year average, reports Steiner Consulting...
Shocking that some retailers fail to stock British beef during Great British Beef Week
UK - It is inexcusable to see some of the country’s biggest retailers failing to honour their commitment to sourcing British beef, especially at a time when British prime cuts are in plentiful supply and in desperate need of a market, the NFU said yesterday....
Beef prices continue to give cause for concern
SCOTLAND, UK - Market disruption caused by Covid-19 continues to see farmgate prices for prime Scotch beef languish at an unsustainable level. ...
NCBA petitions against CFAP limitations for cattle producers
The NCBA has sent a letter to Agriculture Secretary Sonny Perdue urging against CFAP limitations for cattle producers. ...
Indonesia to allow beef imports from Brazil or Argentina
The Indonesian government is removing certain import restrictions to shore up its food supply as the coronavirus pandemic continues....
Tyson halts production at beef facility while workers undergo coronavirus testing
On 23 April, Tyson Foods Inc temporarily shuttered production at its beef facility in Pasco, Washington to test workers for COVID-19....
US union reports that more than 5,000 meat and food processing workers were exposed to coronavirus
The largest meatpacking union in the US says that more than 5,000 meat and food processing workers have been exposed or infected with the novel coronavirus....
CME update: cattle futures weaken as traders question long-term demand
US live cattle futures eased while traders struggled to determine the long-term demand impacts of the coronavirus pandemic....
23 April 2020
EU unveils €80 million support package for farmers amid COVID-19
After the European Commission unveils its aid package for the agri-food sector, farmers say that the support isn’t fit-for-purpose....
IFA calls for Government to release €24 million in unspent aid to bolster beef farmers
The shuttered food service and restaurant sectors across Europe have hobbled Irish beef exports....
CME update: live cattle futures falter due to processing slowdowns
US live cattle futures eased on 22 April as cash markets for the animals weaken due to closed processing plants, traders said....
Calculating the economic effects of Romania’s bluetongue outbreak
Lost export opportunities can send long-term shockwaves in any industry, but it’s proven particularly difficult for Romania’s fledgling cattle sector....
22 April 2020
IFA campaign on beef price supports, direct income aid
IRELAND - IFA National Livestock Chairman Brendan Golden said IFA is driving an intensive lobbying campaign with TDs and MEPs to get the Minister for Agriculture Michael Creed and the EU Agriculture Commissioner Janusz Wojciechowski to take urgent action...
'Make It' campaign set to hit TV screens across Scotland
SCOTLAND, UK - Three of Scotland’s finest ingredients, Scotch Beef PGI, Scotch Lamb PGI and Specially Selected Pork, are set to hit TV screens across Scotland in the coming weeks as part of Quality Meat Scotland’s 'Make It' campaign. ...
G20 agriculture officials say pandemic control measures should not disrupt food supply
Food and agriculture ministers from the G20 agree that emergency measures to stop the spread of COVID-19 must not erode global food supply chains....
Canada will not experience beef shortages, but prices may creep up due to coronavirus
Though Canada has had to slow down and shutter operations at meat-packing plants, the government does not anticipate a beef shortage – but prices may rise....
CME update: cattle futures slip due to stock sell-offs
CME Group cattle futures were weaker on 21 April, facing pressure by a steep decline in equity markets....
21 April 2020
Livestock, meat markets in turmoil during W16/2020 due to COVID-19 among workforce
US - Livestock and meat markets were in turmoil last week as major cattle and hog processing plants were either idled or reduced shifts due to cases of COVID-19 in their workforce, according to Steiner Consulting Group, DLR Division, Inc....
Market challenges continue amidst lockdown
UK - With lockdown restrictions in the UK set to continue for at least another three weeks as the coronavirus outbreak is tackled, the challenges of the red meat supply chain become a little more certain in the short-term, according to the latest market...
CME update: cattle contracts fell on technical selling
Cattle contracts ease as supplies are expected to tighten....
20 April 2020
CME update: cattle futures mixed at the end of the week
US live and feeder cattle futures ended mixed on 17 April, with short term contracts pressured by coronavirus-related slowdowns at processing plants, while hopes of a reopening economy bolstered deferred contracts....
Trump administration unveils $19 billion coronavirus aid package for farmers
On 17 April, President Trump announced a $19 billion relief programme to help US farmers weather the impact of the coronavirus – including food buys for poor Americans and $16 billion in direct payments....
17 April 2020
CME update: cattle futures reach one-week high, rebounding from COVID-19 losses
US live and feeder cattle set one-week highs on 16 April as markets reverse coronavirus-related losses....
16 April 2020
EU auditors take first steps to mitigate the COVID-19 pandemic
Mitigating the COVID-19 outbreak using EU structural funds requires a balance between more flexibility and accountability, say Auditors....
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