Current Cattle Market Daily Headlines for Tuesday, May 19, 2020

by | May 19, 2020 | 0 comments

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Brazil’s JBS to take legal action to reopen poultry plant in Santa Catarina

https://www.reuters.com/article/us-health-coronavirus-jbs/brazils-jbs-to-take-legal-action-to-reopen-poultry-plant-in-santa-catarina-idUSKBN22U2RI

  • JBS plans to seek legal solutions after a local labor authority ordered the company to close a poultry plant in southern Brazil to curb the spread of coronavirus.
  • The plant is located in the town of Ipumirim in Santa Catarina state. It employs 1,500 people and processes 135,000 chickens/day.
  • The plant was closed after an inspection by labor authorities under the Economy Ministry. The inspection “found serious irregularities, mainly related to the absence of safe distancing between workers on the production line and the lack of oversight measures to control the spread of the virus,” reported the prosecutor’s statement.
  • JBS responded saying that the closure was unjustified.
  • Eighty-six Covid-19 cases have been confirmed at the JBS plant. This adds up to almost 5% of the estimated 1,500 workers there.

 

Boxed beef prices update

www.nationalbeefwire.com

  • Going forward through 2020, Covid-19 challenges are expected to restrict slaughter levels for the rest of the year. However, slaughter capacity is expected to recover in 2021. Beef production is also projected to be record high next year.
  • Beef imports were strong in the first quarter of 2020, but the forecast for the rest of the year has been revised lower on tighter expected beef supplies from Oceania.
    • Imports are expected to recover in the second half of 2021.
  • Beef exports reached record levels in the first quarter of 2020, but tighter expected domestic supplies and global economic uncertainty reduced the forecast for the rest of the year.
    • Exports are expected to rebound as much as 9% higher in 2021.
  • Choice boxed beef: $414.95 (-$19.37)
  • Select boxed beef: $394.87 (-$24.19)

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  1. Current Cattle Market Daily Headlines for Tuesday, May 19, 2020 - Wild Sage News & Views - […] Read original article Author: Mackenzie Johnston […]

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