Current Cattle Market Daily Headlines: Friday, May 15, 2020

by | May 15, 2020 | 0 comments

 

Cattle marketing options; Market to Market

  • Colin Woodall stated that more price discovery is needed in our cattle markets, and one component of that is for more cash trade.
  • NCBA disagrees with the 50% negotiated cash trade bill that Senators Tester and Grassley brought forward this week because they don’t believe that needs to be mandated by our federal government.
  • Woodall feels that this bill would put more of a burden on the cow calf producers rather than providing more opportunities

 

Tyson Foods to cut retail beef prices

https://www.drovers.com/article/tyson-foods-cut-retail-beef-prices

  • Tyson reported earlier this week that some beef items sold in grocery stores, restaurants, and to other customers could be discounted by 20%-30% through Saturday.
  • The meat processing company feels this discount is needed in order to keep beef on family tables across our nation while our processing plants are facing reduced levels of production.
  • The price of beef increased by 2.6% in April. We haven’t seen that big of an increase from one month to the next since 1974, according to the Bureau of Labor Statistics.
  • The discounts will be on chuck and round roasts, as well as some other ground beef products.

 

Boxed beef prices decline

https://www.nationalbeefwire.com/cattle-flash

  • Choice boxed beef: $450.92 (-$15.07)
  • Select boxed beef: 437.40 (+$.016)
Related Topics: Boxed Beef | NCBA | Tyson Foods

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  1. Current Cattle Market Daily Headlines: Friday, May 15, 2020 - Wild Sage News & Views - […] Read original article Author: Mackenzie Johnston […]

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