Current Cattle Markets : Daily Headlines : Tuesday Evening, April 28, 2020

by | Apr 28, 2020 | 0 comments

Minnesota Ag Department helping processors and producers with pandemic challenges

https://wnax.com/?s=minnesota+ag+department&submit=Search

  • Minnesota State Ag Dept. is helping livestock producers and processors address current challenges caused by the Covid-19 pandemic.
  • Agriculture Commissioner Thom Peterson claimed that prior to the pandemic some farmers were selling directly to smaller processing plants. Now with the pandemic, consumers have been purchasing directly from farmers 4-5 times more than normal.
  • Peterson said his dept. is moving up state inspections and starting grant programs to assist smaller processors. Peterson’s Ag Dept. is also developing an expedited process to enable plants that currently do not sell wholesale within the state to do so. If these establishments meet the minimum requirements, they’ll be granted a 90-day provisional grant of inspection.

R-Calf says 63,000 sign mandatory COOL petition

R-CALF says 63-k sign Mandatory COOL petition

  • More than 63,000 signatures have been collected urging President Trump and Congress to immediately pass Mandatory Country of Origin Labeling for beef, pork, and dairy products.
  • R-Calf CEO Bill Bullard stated that, “MCOOL will strengthen national food security and help stimulate economic growth.”
  • He went on to say that he encourages producers and consumers to sign the petition at demandusabeef.com.

Cutout Soars; Futures Stabilize

https://www.thebeefread.com/

  • Extremely small cattle slaughter is causing USDA cutout values to reach heights never dreamed of.
  • As of this morning, the choice cutout was quoted at an astounding $326, $120 higher than the low in February of this year.
  • Cash cattle prices have declined 22.2% thus far, which set a new low for the year last week.
  • Record high boxed beef prices coupled with low cattle prices have led packers to find themselves deeply in the black even though their costs have increased by 40%.
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From the Holcomb Tyson fire to COVID-19;
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