Current Cattle Market Daily Headlines for January 14, 2021

by | Jan 14, 2021 | 0 comments

Tyson also proposes settlement in broiler price-fixing case

  • On Monday, Tyson Foods reported that the company agreed to settle a portion of a class action lawsuit that was filed four years ago accusing major poultry processors of fixing prices for broiler chickens.
    • Tyson did not disclose the amount of the settlement with the Direct Purchaser Plaintiffs.
  • Much like Pilgrim’s Pride who agreed to pay $75 million to settle their portion of the same lawsuit, but wouldn’t admit to any of the accusations of price-fixing, Tyson also doesn’t own up to any of the allegations.
  • Tyson went ahead with this settlement because the company believes it was in the best interests of the company and its shareholders.


Brazil environmental fines fall 20% as deforestation soars

  • Ibama, Brazil’s main environmental enforcement agency, handed out 20 percent fewer fines in 2020. This comes at a time when the Brazilian government is rolling back conservation efforts and Amazon deforestation is skyrocketing.
  • In 2020, Ibama gave out 9,516 fines, compared to 11,914 in 2019.
  • Conservative president, Jair Bolsonaro, took office in 2019 and since then he has worked to weaken Ibama by cutting their funding and appointing managers who have weaker policies against illegal logging, farming and mining.
  • According to Bolsonaro, more commercial farming and mining in the Amazon rainforest is needed to lift the region out of poverty.
  • Last year, Amazon deforestation hit a 12-year high when an area of the forest comparable to the size of London was cleared.


Nebraska lawmaker wants legislative COVID protections for meat plant workers

  • Nebraska State Senator Tony Vargas, has introduced a bill, LB 241, that would provide new protections for employees of meatpacking plants.
    • The bill would require processors to provide masks, adequate space for social distancing within the plants and paid sick leave for workers who test positive for the virus.
      • This paid sick leave would be accounted for separately from any other paid sick leave.
    • Senator Vargas introduced a similar proposal last summer, but the bill failed to advance.
      • Vargas’ father passed away from complications due to coronavirus in 2020.


OCM’s top 2021 priorities include checkoff reform, COOL and antitrust enforcement

  • The Organization for Competitive Markets has summarized the three major focus areas for policy they would like to see enacted on a national level.
    • According to OCM Executive Director Mike Eby, the organization is backing the Opportunities for Fairness in Farming Act, a bill that would increase transparency in checkoff programs.
    • Eby is hopeful about working with the new Biden administration on strengthening antitrust enforcement at the Department of Justice to help improve competitiveness in the markets.
    • Their third priority is to get mandatory country of origin labeling (MCOOL) reinstated.
      • The organization wants to see a mandatory program instead of a voluntary program because they feel that a voluntary program allows too many loopholes that harm profitability potential for U.S. cattlemen.


Nebraska man sentenced for letting more than 200 cattle die

  • On Tuesday, Aaron Ogren, of Exeter, NE, was sentenced to 15 to 20 years in prison for letting more than 200 cattle die and for selling livestock he didn’t own.
  • Thirty-one year old Ogren was arrested last April when sheriff’s deputies found more than 200 dead cattle on land near Exeter that Ogren was supposed to be caring for.


Boxed beef prices

  • Choice boxed beef: $211.00 (+1.86)
  • Select boxed beef: $199.06 (+0.97)


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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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