As we reported in March, Senator Charles Grassley (R-Iowa) introduced his 50/14 cash marketing plan for the fed cattle market. The proposed legislation would require beef packers to purchase 50 percent of the fed cattle they slaughter each day on a negotiated cash, spot-market basis, to be delivered and slaughtered within 14 days. His bill came after Senator Deb Fischer (R-Nebraska) introduced the Cattle Market Transparency Act earlier that month. Her bill would 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 requirement...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
