Yesterday, USDA’s Ag Marketing Service published the premiums for hogs compliant with California Proposition 12 and Massachusetts Question 3 under the mandatory price reporting program. The data was in the Non-Carcass Merit Premium report under the category “Animal Confinement Legislation.” As shown below, there was a wide range for the premium, with an average of $4.94 per hundredweight. With the aggregated data it is unclear, but probably safe to assume, that the spread is due to smaller packers offering higher premiums, and larger packers offering lower premiums.
The categories above are what AMS reports on, though there are a myriad of premiums aggregated under “other.” Some categories are no longe...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...