Current Cattle Market Daily Headlines for Tuesday, June 9, 2020

by | Jun 9, 2020 | 0 comments

Daily Headline Sponsor

The Most Committed Brand in Banking ®

This isn’t just some snazzy tagline; it’s the truest words ever spoken by a bank.
Our commitment to the people, business, and communities of the Sandhills guides everything we do.

 

Slaughter rates higher, wholesale prices lower

https://www.drovers.com/article/slaughter-rates-higher-wholesale-prices-lower

  • Wholesale beef and pork price have nosedived in the past two weeks.
  • Friday’s choice boxed beef cutout closed at $261.48/cw., a 28% decline for the week and 45% lower than the high we set on May 12th.
  • The pork cutout closed Friday at $72.78/cw., down 17.5% from a week ago and 40% lower than the peak on May 11th.
  • These numbers suggest that the majority of our meat processing plants finally getting back to normal levels of slaughter.
  • According to Steiner Consulting, last week’s cattle slaughter was estimated at 636,000 hd., the highest since the last week of March and only 4.3% lower than a year ago.
  • The weight of steers and heifers being slaughtered is approximately 4-5% higher, so net fed beef supplies for last week were similar to a year ago.
  • Hog slaughter last week was 2.452 million head, the highest since the first week of April and 1.7% higher than a year ago. Heavier hog carcass weights have increased pork production by 4.2% compared to a year ago.

 

Three poultry execs plead not guilty to price-fixing

https://www.drovers.com/article/three-poultry-execs-plead-not-guilty-price-fixing

  • Three of four poultry executives who are accused of conspiring to fix chicken prices and rig bids for broilers have entered pleads of not guilty. The fourth executive requested a continuance in order to hire new counsel.
  • All four executives were released on their own recognizance.
  • If convicted, the executives face a statutory maximum penalty of 10 years in prison and a $1 million fine.

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: 254.58 (-6.90)
  • Select boxed beef: $231.12 (-15.30)

0 Comments

Trackbacks/Pingbacks

  1. Current Cattle Market Daily Headlines for Tuesday, June 9, 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: