Senator Deb Fischer (R-Nebraska) has introduced legislation to mandate a minimum volume of cash market purchases of fed cattle. Specifically, the bill would amend the Packers and Stockyards Act to direct USDA to establish a mandatory minimum of negotiated purchases of fed cattle for each packer in each region for each slaughter week. It would not apply to single plant packing companies, however. The basics of the mandatory minimum are as follows:
Purchase volume requirements would be set regionally, along the lines of the USDA’s current five region livestock reporting, though regions could be adjusted
Would apply to cattle purchased for slaughter within 14 days – the proposal amends the Ag Marketing Act’s curren...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
