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)