Current Cattle Market Daily Headlines for November 2, 2020

by | Nov 2, 2020 | 0 comments

Daily Headline Sponsor

The Most Committed Brand in Banking ®

This isn’t just some snazzy tagline; it’s the truest words ever spoken by a bank.
Our commitment to the people, business, and communities of the Sandhills guides everything we do.

Cargill names seven to their beef sustainability advisory panel

https://www.meatingplace.com/Industry/News/Details/95258

  • In January, Cargill launched its BeefUp Sustainability initiative, which has the goal of reducing greenhouse gas intensity by 30 percent across Cargill’s North American beef supply chain by 2030.
    • This reduction equates to removing 2 million cars from U.S. highways for a year.
  • This week, the company has formed an advisory panel for the BeefUp initiative made up of seven individuals throughout the scientific and beef industry.
  • Members of the advisory panel include:
    • Jason Anderson, Power Genetics
    • Marcia DeLonge, Union of Concerned Scientists
    • Erik Jacobsen, Deseret Ranches
    • Ashley McDonald, NCBA
    • Lesley Mitchell, Forum for the Future
    • Lisa Sweet, World Economic Forum
    • Bob Weaber, Kansas State University
  • The BeefUp initiative is based on four science-based practices:
    • Grazing management
    • Feed production
    • Emerging technologies to reduce emissions
    • Food waste reduction
  • The advisory panel is in place to make recommendations on cross-sector stakeholder engagement and information sharing to advance progress across the beef supply chain.
  • Ashley McDonald, senior director of sustainability for NCBA, said that as a voice for cattle producers, NCBA is excited to participate in this advisory panel to provide opportunities to help support rancher resilience.

 

Tyson wins some, loses some in antitrust summary judgments

https://www.meatingplace.com/Industry/News/Details/95249

  • Last week, Tyson Foods was able to reverse some details of a 2015 antitrust lawsuit with a recent summary judgment, however two key aspects in the lawsuit will move forward.
    • The lawsuit is between Tyson and broiler growers for the processor’s vertically integrated facility in Robards, KY.
  • The broiler growers sued Tyson on four claims: violation of the Packers and Stockyards Act; breach of contract, breach of the implied covenant of good faith and fair dealing; and fraud.
  • Tyson contended that the four claims should be dismissed in a motion for summary judgment.
    • Joseph H. McKinley Jr. of the Western District of Kentucky, Owensboro Division ruled that both the breach of the implied covenant and fraud claims were dismissed.
  • Judge McKinley denied Tyson’s summary judgment for the Packers and Stockyards Act and breach of contract. Those components of the lawsuit will continue.
  • According to Judge McKinley, there is evidence that Tyson is a monopsony in the relevant regional market and that Tyson’s actions has negatively impacted or will likely have an adverse impact on competition.

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: $208.10 (+0.78)
  • Select boxed beef: $191.24 (+0.01)

0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

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.

READ MORE…

We're in this together.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

%d bloggers like this: