Current Cattle Markets Daily Headlines for Tuesday, August 4, 2020

by | Aug 4, 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.

Company to open beef processing facility in south-central Idaho

https://www.usnews.com/news/best-states/idaho/articles/2020-07-31/company-to-open-beef-processing-facility-in-s-idaho

  • Agri Beef announced on Friday that it will be opening a new processing plant in Jerome, Idaho. The plant will operate as True West Beef.
    • This plant will employ 400 workers.
    • The plant will be able to process 500 cattle per day.
  • This new processing plant will work directly with livestock producers who will have an equity ownership in the facility.
  • Agri Beef already owns a mid-sized processing plant in Washington and has operated feedlots throughout Idaho since 1968.
  • The company feels that Jerome, ID is just the right location with plentiful agricultural resources, motivated workforce, and a vibrant community with a “can-do spirit.”

 

NCBA: Unanimous policy allows for voluntary negotiated trade before seeking regulatory action

https://www.thefencepost.com/news/ncba-unanimous-policy-allows-for-voluntary-negotiated-trade-before-seeking-regulatory-action/

  • Six hours of discussion at NCBA’s summer business meeting, with months of Zoom meetings held prior to that, ended with the industry group supporting a voluntary policy approach that increases frequent and transparent negotiated trade to regionally sufficient levels, to achieve robust price discovery determined by NCBA funded and directed research. The policy also includes triggers to be determined by a working group of NCBA producer leaders by October 1st, 2020.
  • If this proposed voluntary approach does not achieve robust price discovery and meet the established triggers that increase frequent and transparent negotiated trade to a regionally sufficient level, NCBA will pursue a legislative or regulatory solution.
  • Ethan Lane, NCBA Vice President of Government Affairs, said that NCBA is unanimously passing policy that says if it doesn’t work, they’re going to the Hill. The organization plans to seek another solution if it comes down to it.
  • NCBA’s research and data has shown that a certain level of mandated negotiated cash trade won’t work across the nation; regional differences must be respected.
  • Lane feels that every viewpoint was represented at the meeting. He stated that NCBA has policy opposing the restriction of producers to market their cattle as they see fit. One proposed solution goes further than many producers seem to be comfortable with, but doing nothing is something all producers are against.

 

Boxed beef prices

www.nationalbeefwire.com

Choice boxed beef: $204.66 (+1.40)

Select boxed beef: $190.40 (+0.51)

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: