Profit tracker: triple digit feeding losses continue
- According to the Sterling Beef Profit Tracker, cattle feeding losses were estimated at $157/hd. the week ending July 31st.
- Negotiated cash trade for the week averaged $99.33/cwt., about $1 higher than the previous week.
- Packer margins were estimated at $286/hd. This was about $9 less than the previous week.
- Choice beef cutout price averaged $200/cwt., about even with the previous week.
- A year ago, cattle feeders were turning a profit of $61/hd. on closeouts the last week of July. That same week, packers were seeing a profit of $153/hd.
Bulgaria to cull almost 200 rare pigs in African swine fever outbreak
- On Wednesday, Bulgarian veterinary authorities reported that they plan to cull almost 200 pigs from a rare local breed after detecting an outbreak of African swine fever.
- The outbreak was detected after 15 of the 212 pigs died on the small farm located in the eastern side of Bulgaria.
- Bulgaria has been forced to cull more than 170,000 pigs since 2019.
DOJ intervenes in JBS acquisition of MSR lamb plant
- JBS closed on its acquisition of the Mountain States-Rosen (MSR) lamb processing plant in Greeley, CO on July 31st. The company acquired the processing plant after submitting the winning bid during a bankruptcy auction.
- JBS had plans to shut down all lamb processing at the plant and instead process beef. This change has the potential to impact sheep growers in at least 15 western states.
- “Inside sources” have confirmed that the DOJ has issued a 30-day standstill order halting JBS from making any changes to the plant.
- Frank Moore, Wyoming sheep rancher and MSR Vice Chairman said the sheep industry will be devastated if JBS does go through with this acquisition and discontinues lamb processing in Greeley. Without MSR, the sheep industry will not have enough processing or fabrication capacity.
Boxed beef prices
Choice boxed beef: $203.66 (-0.58)
Select boxed beef: $191.01 (+0.56)