Current Cattle Markets Daily Headlines : Friday Evening May 1, 2020

by | May 1, 2020 | 0 comments

NCBA Applauds Bipartisan Senate Effort to Provide Flexibility to Livestock Haulers

  • NCBA’s executive director, government affairs, Allison Rivera, released the following statement in response to a bipartisan letter from 24 US Senators to US Senate Committee on Commerce, Science, and Transportation Chairman Roger Wicker and Ranking Member Maria Cantwell.
  • “Now more than ever, we can see how vitally important it is for haulers to have the flexibility they need to get live and perishable goods to market as quickly and as safely as possible. Hauling livestock is inherently different than hauling typical consumer goods, and we continue to look for flexibilities within Hours of Service to safely haul livestock around this country. As we look toward an infrastructure package we are grateful for the continued support on Hours of Service flexibilities.”
  • Transporting perishable and live goods presents a unique set of circumstances. These laws need to be flexible concerning these goods.
  • Transporting these types of goods requires a commonsense framework for drivers, rather than a one-size-fits-all model.


Nine meat plants in southern Brazil face Covid-19 outbreaks

  • According to health authorities in Brazil’s southernmost state of Rio Grande do Sul, coronavirus has spread to nine local meat-processing plants.
  • Approximately 16,345 people who work at these meat plants have been exposed to the virus.
  • Coronavirus has been gaining momentum in Brazil. On Thursday 78,162 cases were reported, with 5,466 deaths.
  • There have been 124 confirmed cases of the virus among workers in the meat facilities, and at least one person has died from Covid-19 linked to the processing plants.


Estimated weekly meat production

  • Under Federal inspection for the week ending Saturday, May 2nd, 2020, total red meat production was estimated at 682.3 million lbs. according to the US Dept. of Agriculture’s Marketing Service.
    • 9% lower than a week ago and 34.9% lower than a year ago.
    • Cumulative meat production for the year to date was .4% lower compared to the previous year.
  • Boxed beef continues to shatter records
    • This morning’s boxed beef was reported at $373.85, which is $80.48 higher than last Friday’s close. And 108.26 higher than the previous high set on May 19th, 2015.


Groups ask DOJ to help investigate packers

  • SD Cattlemen’s Assoc. is among 23 groups that are currently asking that the US Dept. of Justice get involved in the USDA investigation into meatpacking pricing activity surrounding the coronavirus pandemic.
  • Eric Jennings (Spearfish, SD), the organization’s president, said his group is worried that without the help of the DOJ, the USDA investigation isn’t going to produce any results.


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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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