Current Cattle Market Daily Headlines for Wednesday, June 10, 2020

by | Jun 10, 2020 | 0 comments


Thune, Baldwin introduce bill to improve paycheck protection program for agricultural producers

  • Senator John Thune of South Dakota and Tammy Baldwin of Wisconsin introduced legislation on Tuesday that would revise the way producers calculate their Paycheck Protection Program (PPP) loan award.
  • The PPP program was created in the CARES Act to help small businesses retain their employees and cover other qualifying business expenses.
  • South Dakota’s agricultural producers are the heartbeat of the state’s economy; we need to ensure that our agriculture community can weather this pandemic, said Thune.
  • “The Paycheck Protection for Producers Act will provide welcome relief for farmers rendered ineligible for PPP under the CARES Act as a result of financial losses caused by 2019 weather conditions,” said Jeff Thompson, president of the South Dakota Soybean Association.


Processing sector recovering quicker than expected

  • University of Missouri’s Scott Brown feels that the recovery to the processing sector following Covid-19 has been impressive.
  • Brown said a month ago no expected cattle slaughter to be near year-ago levels and hog slaughter to be above year-ago levels.
  • A negative side affect to these increased slaughter levels has been the sharp decline of boxed beef prices and the pork cutout values.
  • Brown feels a strong economic recovery coupled with strong domestic demand will be a vital component needed for the livestock sector to bounce back from the impact of the coronavirus pandemic.


Boxed beef prices continue to tumble

  • Choice boxed beef: $247.00 (-7.58)
  • Select boxed beef: $227.95 (-3.17)



  1. Current Cattle Market Daily Headlines for Wednesday, June 10, 2020 - Wild Sage News & Views - […] Read original article Author: Mackenzie Johnston […]

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From the Holcomb Tyson fire to COVID-19;
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