As of today, week to date cattle slaughter is 99.7 percent of the same period last week. Last Thursday, we speculated that last week’s slaughter “could creep up on 670,000 head” – it was 668,000, making it the second highest week of the year.
Between now and Christmas, packing plants run at as high a capacity as they can to fulfill holiday demand. With some of the front-end cattle supplies at feed yards having been worked through, the combined effect would be some bullish cattle prices. Today’s negotiated trade for steers and heifers was $130/cwt. That is providing support to futures, although there was some correction today from yesterday’s highs. Another commodity bouncing back with holi...
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...
