Current Cattle Market Daily Headlines : Monday Morning, April 27, 2020

by | Apr 27, 2020 | 0 comments

 

Boxed beef hits record levels

http://www.nationalbeefwire.com

  • Boxed beef reached $293.37
  • Just last week (the week of April 20th), this price increased $54.38

United States receives it’s first shipment of beef rom Namibia

https://www.reuters.com/article/us-namibia-usa-beef/namibia-first-african-country-to-export-red-meat-to-hungry-u-s-market-idUSKBN20E1BB?fbclid=IwAR2nfb8To9Xk-WgrrFkgZZynBTpFHmRLlERZrNFYfZ3l4Pa23UP9TdR3T3I

  • This shipment included prime cuts, chuck, blade and trimming.
  • These exports come after 18 years of extensive negotiations between the US and Namibia.

Cattle on feed report

http://www.nationalbeefwire.com

  • Placements reported at 1.56 million head, down 23% from last year.
    • These placements were the lowest for March since the series began back in 1996.
  • Marketing’s reported at 2.01 million head, up 13% from last year
    • These marketing’s are the second highest for March since the series began back in 1996.

MSGA joins other state cattlemen’s associations requesting investigation into cattle markets

MSGA Joins State Cattlemen’s Associations in Requesting Investigation into Cattle Markets

  • MSGA joined 22 other state cattle organizations alst week in sending a letter to US Attorney General William Barr, requesting a formal investigation by the DOJ into packer corruption, collusion, and manipulation of the cattle markets.
  • This letter was prompted by the fire at the Tyson processing plant in Finney County, Kansas back in Aug. of 2019 and most recently, Covid-19. Both events caused major disruptions in the cattle markets.

Jennie-O closes operations at Willmar, MN plants temporarily due to Covid-19

https://www.wctrib.com/newsmd/coronavirus/6458406-Jennie-O-winds-down-operations-at-Willmar-plants-temporarily-closed-due-to-COVID-19

  • A pair of Jennie-O turkey store processing plants were closed in Willmar, MN after 14 employees tested positive for coronavirus.
  • Close working conditions and incentives to stay on the floor despite systems, allowed the virus to spread through the plant and communities.
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How did we get here?

From the Holcomb Tyson fire to COVID-19;
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