Current Cattle Markets Daily Headlines for Thursday, September 3, 2020

Mackenzie Johnston

6 years ago

Montana candidate for governor unveils growth plan with COOL initiative

Montana’s Lt. Governor Mike Cooney, recently unveiled an economic growth plan that would revive Country of Origin Labeling (COOL) for meat products made in Montana.
- Cooney also happens to be running for governor.
The proposed “Growing Montana” initiative would encourage the support and development of local and regional state-certified meat processing facilities.
- The initiative would also expand the “Made in Montana” and “Grown in Montana” brand to meat products.
The program would reinstate COOL for beef and pork products in an attempt to provide an edge to Montana producers and deliver more information about the state’s products.
In May, U.S. Senator Jon Tester launched the first bipartisan effort to support COOL for beef products on Capitol Hill since MCOOL measures were repealed in 2015.

Tyson foods is planning to either sell or close its meat processing plant in Wrexham, Wales. The company may possibly discontinue operations at the facility on September 30^th.
- The closure of this facility will result in 71 jobs being lost.
According to a Tyson spokesperson, the plant is closing due to the inability to generate profitable growth and the need to adapt to shifting consumer needs.
The plant originally opened in 1962 under Frimbo Foods and has been a major employer in the Wrexham area.

Brazil is expected to be the largest beef exporter in the world this year exporting 2,550,000 lbs. of beef.
- Their exports account for 23.93 percent of world exports.
Following Brazil is Australia with 1,400,000 lbs. of beef, 13.14 percent of world exports, then India with 1,400,000 lbs., making up 13.14 percent of world exports, and finally the U.S. with 1,322,000 lbs. accounting for 12.4 percent of the world’s beef exports.
Brazil, India, Australia, and the U.S. are projected to account for roughly 63 percent of the world’s beef exports.