USDA unveils more COVID-19 aid, mostly for livestock farmers

Funds earmarked for farmers under contract

Reading Time: 2 minutes Chicago | Reuters — The U.S. Department of Agriculture said on Friday it will pay an additional US$2.3 billion in COVID-19 aid to farmers, directing more money to livestock producers suffering from disruptions in slaughtering and restaurant demand for meat. The aid, which comes from money allocated to USDA from previous pandemic stimulus legislation, follows […] Read more

U.S. livestock: Hog, cattle futures rise on bargain buying

Reading Time: < 1 minute Chicago | Reuters — CME live cattle futures rose on Friday on some bargain buying but still posted their first weekly loss in five weeks, traders said. Bargain buying also supported hog futures, which had posted lower closes in seven of the previous eight sessions. Signs of weakness in the cash markets kept a lid […] Read more

U.S. livestock: Live cattle sink on profit-taking, technical selling

Lean hogs, feeder cattle mixed

Reading Time: 2 minutes Chicago | Reuters — U.S. cattle futures fell on Monday in a profit-taking and technical-selling setback amid concerns about weaker demand for cattle and beef, traders said. Position rolling by funds, as they closed out long positions in the spot month and bought deferred contracts on the second day of the five-session “Goldman roll” period, […] Read more

“The packers need to come to terms with the fact that they’re not going to have a supply if they don’t change.” – Darcy Fitzgerald.

Alberta pork producers look at single desk selling

After years of losses, many will abandon the sector if things don’t change, says Alberta Pork

Reading Time: 3 minutes Glacier FarmMedia – When it was wheat, Alberta led the fight to get rid of single-desk selling. But it’s a very different story when it comes to pork. Two-thirds of Alberta Pork producers voted in favour of investigating a single-desk marketing system similar to Quebec at their virtual annual general meeting held November 23. Thirty […] Read more

Tyson fires seven managers after probe into COVID-19 wagering

Employees had been suspended following lawsuit

Reading Time: < 1 minute Reuters — Tyson Foods said Wednesday it had fired seven managers at an Iowa pork plant after investigating allegations that they took bets on how many employees would catch COVID-19. The independent investigation, led by former U.S. Attorney General Eric Holder, came in response to a lawsuit filed by the son of a worker at […] Read more

U.S. livestock: Hog futures rally on technical buying

February live cattle futures lower

Reading Time: < 1 minute Chicago | Reuters — U.S. lean hog futures rose 3.8 per cent on Monday, notching their biggest daily gain since September, in a technical bounce from the three-week low they hit on Friday, traders said. “We hit the bottom end of the range so we are just bouncing back,” said Don Roose, president of brokerage […] Read more

China’s coronavirus testing chokes beef trade

Additional inspections, disinfections costly for importers

Reading Time: 3 minutes Beijing | Reuters — In a supermarket in downtown Beijing, refrigerator shelves normally filled with steak from around the world sit empty as tougher testing for the novel coronavirus creates supply bottlenecks and raises prices for importers. Fresh supplies of beef won’t arrive for days, a salesman at the Carrefour outlet told Reuters — […] Read more

Tyson suspends staff as suit alleges managers set up COVID pool

Reading Time: 2 minutes Chicago | Reuters — Tyson Foods said Thursday it suspended employees without pay and hired former U.S. attorney general Eric Holder to conduct an investigation in response to a wrongful death lawsuit that alleges managers at an Iowa pork plant took bets on how many employees would catch COVID-19. The coronavirus pandemic has ravaged the […] Read more

China, COVID ruined pork party

Canadian pork exports were surging from December 2018 to May 2019, but then trade disputes and packer slowdowns got in the way

Reading Time: 2 minutes Glacier FarmMedia – Canadian hog producers were on the path to good times before Chinese complications and COVID-19 derailed producers, Statistics Canada analysis shows. However, the recovery of the North American packing industry since the pandemic shock and the return of China to buying Canadian pork have reversed some of the damage. Why it matters: […] Read more

U.S. livestock: Live cattle futures up despite slower slaughter

December lean hog futures drop

Reading Time: < 1 minute Chicago | Reuters — U.S. live cattle futures gained slightly on Friday after a week of range trading, traders said. Chicago Mercantile Exchange December live cattle futures settled 0.3 cent higher at 108.65 cents/lb. (all figures US$). CME feeder cattle futures gained 0.525 cents to end at 135.925 cents/lb. For the week, live cattle futures […] Read more