Industry Headlines

May 2013: Did you know…

Encouraging news relative to cattle supply came from the Professional Cattle Consultants (PCC) newsletters in April. Shawn Walter reported March feedlot placements were up 7.7% and speculated that April placements might be up as well. ... Full story.

Commentary: Trust is valuable and fragile

What happens to the trust that U.S. farmers have built up with consumers when state legislators around the country introduce bills that make it illegal for whistleblowers to make videos that document animal abuse or force the whistleblowers to turn such videos over to law enforcement before they can establish a pattern of abuse? ... Full story.

Boxed beef leads the way

Choice boxed beef reached record levels above $200/cwt. last week, with fed cattle prices not far behind. The late spring rally comes after boxed beef and fed markets appeared to have topped in March. Extended cold weather, abundant supplies of competing meats, high gas prices and increased payroll taxes have all played a part in limiting beef demand this spring. Several of those factors have now changed somewhat. ... Full story.

March beef export volume down, value up compared to a year ago

March exports of U.S. beef were down in volume from a year ago but edged slightly higher in value. ... Full story.

Tyson profit misses estimates, full-year sales forecast cut

Tyson Foods Inc, the largest U.S. meat processor, reported a weaker-than-expected quarterly profit as shoppers and restaurants switched to cheaper chicken from beef, and the company cut its full-year sales forecast. ... Full story.

U.S. beef prices set new high as spring barbecue season heats up

U.S. wholesale beef prices rose to an all-time high on Friday as the delayed spring grilling season is heating up and as supermarkets buy meat for the May 27 U.S. Memorial Day holiday weekend, commonly seen as the unofficial start of the summer cookout season, analysts said. ... Full story.

We all agree. Sort of

The gap between animal-agriculture and consumer perceptions of food production continues to grow, and we need to communicate better with the general public. Most participants at last week’s Animal Agriculture Alliance Stakeholder Summit would agree with that statement. But once the discussion shifted to specific messages and methods for addressing that perception gap, the opinions were, well, less in alignment. ... Full story.

Cattle Outlook: Choice boxed beef tops $200

Fed cattle prices were higher this week on heavy volume. Through Thursday, the 5-area average price for slaughter steers sold on a live weight basis was $129.02/cwt, up $1.77 from last week and up $8.86/cwt from the same week last year. ... Full story.

D.C. Watch: New farm bill expected May 15

House Agriculture Committee Chairman Frank Lucas, R-Okla., says he plans to mark up a new farm bill on May 15, and the bill will reduce spending by $38 billion over 10 years versus the baseline. The cuts will be made up of $20 billion in less funding for food and nutrition programs and $18 billion less for the other titles.

Lucas says the commodity title will be very similar to the one passed by the committee last year – eliminating di­rect payments and creating a “shallow loss” program to pay for losses not covered by crop insurance and a “target price-countercyclical-type” program. ... Full story.

Texas ranchers & cattlemen purchase South Texas beef processor

A beef processor with headquarters in Corpus Christi, Texas has been acquired by new ownership led by Texas cattlemen who plan to revive the business. ... Full story.

Monday Market Sentiment: Cash prices improve more than expected

Cash cattle prices ended last week higher, moving $1.80 above the prediction set by our Monday Market Sentiment. Low supplies forced packers to buy as the week came to an end and warm weather added market support. Last week’s gains in the cash market, up $1.76 per cwt, ended two weeks of consecutive losses. Our Monday Market Sentiment panel expects the turnaround to continue another week, predicting an increase of 30 cents to 128.37 per cwt. ... Full story.

USMEF: Working to resolve the meat trade impasse with Russia

Last year was the best ever for U.S. beef exports to Russia ($307 million), and a very strong year for U.S. pork exports ($282 million). But trade slowed dramatically toward the end of 2012, as Russia stepped up enforcement of its zero-tolerance policy for residues of the livestock feed additive ractopamine. Despite diplomatic efforts to address this issue, the Russian market formally closed to U.S. pork and beef on February 11. ... Full story.