Current Cattle Market Daily Headlines for Thursday, May 28, 2020

by | May 28, 2020 | 0 comments

 

U.S., China trade tensions could bubble over

https://brownfieldagnews.com/news/u-s-china-trade-tensions-could-bubble-over/

  • There is legitimate concern the phase one deal could unravel as tensions increase between the U.S. and China.
  • On Tuesday, President Trump said he is ready to take action against China over its effort to impose national security laws on Hong Kong.
  • DTN lead analyst, Todd Hultman, says a trade dispute with China is the number one problem for commodity prices the White House could actually do something about.
  • Hultman realizes that the solution to this problem won’t be easy, but our decisions here in the U.S. are making it extremely difficult to get trade going again with China.
  • The relationship we have with China when it comes to trade can make a real difference for our American farmers and ranchers.

 

Justice Department investigates high meat prices amid coronavirus crisis

https://video.foxnews.com/v/6159887736001?fbclid=IwAR0gWvkrIukW7vfdlCIw_A-5KXrgA44tdiNeipNHkNJE6c7BCxIBjq18XgQ#sp=show-clips

  • Consumers across our nation are facing significant prices at the meat counter, some are even finding empty shelves in their grocery stores.
  • While consumers are facing increased prices at the grocery store, meat processors are paying farmers less and less for beef.
  • According to the Bureau of Labor Statistics, the average price of ground beef is $6.22/lb. This price increased $.26 from March to April.
  • Officials in the DOJ investigation are currently probing irregularities in pricing within our four big packers; JBS, Cargill, National Beef, and Tyson.
  • Senator Chuck Grassley of Iowa has been at the forefront fighting for cattle producers over the past few months.
    • Besides pushing for the DOJ to look into corruption and collusion within our processing sector, he has also brought forward a bill to increase negotiated cash trade

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: $377.77 (-$7.72)
  • Select boxed beef: $350.20 (-$9.82)

0 Comments

Trackbacks/Pingbacks

  1. Current Cattle Market Daily Headlines for Thursday, May 28, 2020 - Wild Sage News & Views - […] Read original article Author: Mackenzie Johnston […]

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

How did we get here?

From the Holcomb Tyson fire to COVID-19;
Click to see a timeline of events that have brought to light the profit and pricing disparity in cattle markets.

READ MORE…

We're in this together.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

%d bloggers like this: