Current Cattle Market : Daily Headlines : Tuesday Morning, April 28, 2020

by | Apr 28, 2020 | 0 comments

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Farmers should act fast to receive economic relief

https://www.fb.org/podcast/farmers-should-act-fast-to-receive-federal-economic-aid

  • Congress recently appropriated $310 billion of additional funding to the Small Business Administration’s Paycheck Protection Program and an additional $60 billion for the Economic Injury Disaster program. Funds are expected to only last 4 days.

New York partnering with state dairy producers to give excess milk to food banks, and those in need

https://cbs6albany.com/newsletter-daily/ny-partnering-with-state-dairy-producers-to-process-distribute-excess-milk-to-food-banks

  • New York’s Gov. Cuomo announced on Monday that New York will be partnering with state dairy producers to process and distribute excess milk to food banks and those in need. o This excess milk will be made into yogurt and cheese and then distributed to food banks and those in need.

Texas Gov. Abbott to allow stay-at-home order to expire on April 30th

https://www.axios.com/texas-coronavirus-reopening-e0104f38-f8ce-4142-a56f-846a7c7b60db.html

  • Gov. Abbott will raise the stay-at-home order on April 30th
  • Opening the state back up will occur as a two-phase plan
    • Phase 1- All retail stores, restaurants, malls, and movie theatres will be allowed to reopen with 25% limited occupancy.
    • Phase 2- Set to begin on May 18th (barring phase one is successful.) Occupancy levels will be increased to 50%. Further increases will hopefully occur in the near future.

Market to Market

  • According to Market to Market, Iowa State University economists estimate a possible $.40 drop in the price of corn through the summer

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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.

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