Cattle and hog slaughter is starting to rebound as plants reopen.
Last week’s export sales reflect the state of the packing industry; net beef sales totaled 4,200 tons, down 20 percent on the week and 64 percent below the four-week average. Net pork sales totaled 10,800 tons, a decrease of 77 percent from the week before and 76 from the four-week average. Meanwhile, Congress is busy making political hay from the disarray in the markets. The House is expected to pass the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act tomorrow, aka, the fourth COVID-19 relief package. It is a $3 trillion bill and includes a doubling of direct farm payments and amends the CCC Charter Act to allow the Secretary to address remova...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
