When it comes to the coronavirus, there is a lot more that is unknown than is known at this point, a situation which has caused a general level of anxiety and bearishness in the economy and across equities and commodity markets, including livestock poultry and meat. At this point there seems to be three perspectives from which the situation can be assessed:
What we know
What we don’t know
What we don’t know that we don’t know
The real uncertainty hanging over the market is that last category – the things we don’t know that we don’t know and markets will want to lay off those risks. Those issues will evolve with time, one way or another. That leaves the other perspectives...
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...